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KYUSHU ELECTRIC POWER COMPANY, INCORPORATED

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Kyushu Electric Power Incorporated : Japan's power industry says needs nuclear power, will discuss it with next PM

09/10/2021 | 07:30am EDT
Men work at a transmission tower in Kakogawa

TOKYO (Reuters) - Japan needs nuclear power, the head of an electricity sector federation said on Friday, adding that the industry would have a serious debate on energy policy with whoever becomes the next prime minister.

Japan's popular coronavirus vaccination minister, Taro Kono, previously known as a strong critic of nuclear energy, on Friday announced his candidacy to lead the ruling party and, by extension, become the next prime minister.

"We believe Japan needs nuclear power on the basis of current science and technology," Kazuhiro Ikebe, the chairman of the Federation of Electric Power Companies of Japan (FEPC), told reporters.

"It is no use for us to be wary," Ikebe said when asked if the industry was cautious about Kono becoming prime minister.

"We will have a thorough and serious discussion with him and try to make him understand our stance," Ikebe said, referring to what would happen if Kono were to become leader.

Kono sounded more cautious on his stance on nuclear power at a Friday news conference, declining to be labelled "anti-nuclear".

He said nuclear power plants dormant since the 2011 Fukushima disaster, that are deemed safe, could be restarted to help achieve a goal of carbon neutrality by 2050.

But Kono said building new plants was "unrealistic" and nuclear power usage will eventually become zero.

Ikebe said discussions were necessary.

"It's difficult to guess what timeline he was talking about ... we'll need to have scientific debates," Ikebe said.

A draft of Japan's latest energy policy, unveiled in July, left the nuclear target unchanged at 20-22% of the electricity mix for 2030.

It did not mention building new nuclear plants or replacing plants, which power and other industries have urged the government to do.

(Reporting by Yuka Obayashi; Editing by Robert Birsel)


ę Reuters 2021
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Financials
Sales 2022 1 614 B 14 170 M 14 170 M
Net income 2022 46 533 M 408 M 408 M
Net Debt 2022 - - -
P/E ratio 2022 8,78x
Yield 2022 4,77%
Capitalization 396 B 3 487 M 3 479 M
Capi. / Sales 2022 0,25x
Capi. / Sales 2023 0,24x
Nbr of Employees 21 273
Free-Float 93,8%
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Kyushu Electric Power Company, Incorporated Technical Analysis Chart | 9508 | JP3246400000 | MarketScreener
Technical analysis trends KYUSHU ELECTRIC POWER COMPANY, INCORPORATED
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 838,00 JPY
Average target price 996,67 JPY
Spread / Average Target 18,9%
EPS Revisions
Managers and Directors
Kazuhiro Ikebe Executive President & Representative Director
Michiaki Uriu Chairman
Kazutaka Koga Independent Outside Director
Kazuko Fujita Independent Non-Executive Outside Director
Sakie Fukushima Tachibana Independent Non-Executive Outside Director
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