THE KANSAI ELECTRIC POWER CO., INC.

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Delayed Japan Exchange  -  02:00 2022-07-01 am EDT
1336.00 JPY   -0.60%
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Tokyo Electric Power Shares Jump on Nuclear Restart Hopes

05/05/2022 | 08:26pm EDT

By Kosaku Narioka


Tokyo Electric Power Co. Holdings Inc. shares rose sharply Friday morning on growing hopes for government-led nuclear-reactor restarts.

The company's shares were recently 8.8% higher at 496 yen ($3.81) after rising as much as 10% earlier.

The Tokyo Metropolitan Government said Monday that it had made a shareholder proposal, requesting Tokyo Electric to restart nuclear reactors, citing a potential power shortage later this year.

Japanese markets were closed Tuesday through Thursday for public holidays. The metropolitan government owns a 1.2% stake in the power company.

Meanwhile, Prime Minister Fumio Kishida said in a speech delivered in London on Thursday that the government plans to use nuclear power to contribute to the worldwide reduction of dependence on Russian energy, according to media reports.

Mr. Kishida said in April that the government plans to maximize the use of nuclear power to secure stable power supply, leading to a surge of power company stocks then.

Other utility stocks were also higher Friday. Kansai Electric Power Co. shares were up 3.2% and Chugoku Electric Power Co. shares were 3.8% higher.

Restarts of existing nuclear reactors have been a contentious issue in Japan after the Fukushima nuclear disaster in March 2011.


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


(END) Dow Jones Newswires

05-05-22 2226ET

Stocks mentioned in the article
ChangeLast1st jan.
THE CHUGOKU ELECTRIC POWER CO., INC. -0.57% 868 Delayed Quote.-6.77%
THE KANSAI ELECTRIC POWER CO., INC. -0.60% 1336 Delayed Quote.24.39%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. 2.12% 579 Delayed Quote.94.95%
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Analyst Recommendations on THE KANSAI ELECTRIC POWER CO., INC.
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Financials
Sales 2022 2 807 B 20 760 M 20 760 M
Net income 2022 62 880 M 465 M 465 M
Net Debt 2022 - - -
P/E ratio 2022 19,0x
Yield 2022 3,74%
Capitalization 1 192 B 8 818 M 8 818 M
Capi. / Sales 2022 0,42x
Capi. / Sales 2023 0,36x
Nbr of Employees 31 933
Free-Float 78,6%
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Technical analysis trends THE KANSAI ELECTRIC POWER CO., INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 1 336,00 JPY
Average target price 1 552,00 JPY
Spread / Average Target 16,2%
EPS Revisions
Managers and Directors
Shigeki Iwane Director & Vice President
Sadayuki Sakakibara Chairman
Noriyuki Inoue Independent Outside Director
Takamune Okihara Independent Outside Director
Tetsuya Kobayashi Independent Outside Director
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