By Kosaku Narioka


Shares of Mitsubishi Heavy Industries Ltd. and IHI Corp. rose sharply Wednesday morning after a Nikkei business daily report that the Japanese government is going to consider building new nuclear reactors.

Mitsubishi Heavy Industries builds nuclear power plants and IHI supplies reactor pressure vessels and other key equipment.

Mitsubishi Heavy shares were recently 5.3% higher at 5,135 yen ($37.55) after rising as much as 5.5% earlier. IHI shares were recently up 4.8% at Y3,610 after rising as much as 5.4% earlier.

The government led by Prime Minister Fumio Kishida is going to consider developing and constructing next-generation nuclear power plants, a departure from its previous stance of not building new reactors, the Japanese business daily Nikkei reported Wednesday.

Shares of Mitsubishi Heavy and IHI, along with power utilities, have risen in recent months as the government presses ahead with restarting existing nuclear reactors to ensure a stable power supply.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

08-23-22 2306ET