TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.

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Delayed Japan Exchange  -  02:00 2022-07-05 am EDT
653.00 JPY   -0.15%
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Japan governor wins re-election, NHK says, in race seen key to nuclear restart

05/29/2022 | 08:08am EDT
FILE PHOTO: A view shows a street with shuttered stores in Kashiwazaki

TOKYO (Reuters) - The governor of Japan's Niigata prefecture easily defeated his anti-nuclear opponent in an election on Sunday, public broadcaster NHK said, a result that could embolden members of the ruling party who are pushing for the country's largely idled nuclear energy plants to be revived.

Hideyo Hanazumi, who was backed by Prime Minister Fumio Kishida's ruling Liberal Democratic Party (LDP), beat local businesswoman and longtime activist against nuclear energy, Naomi Katagiri by a large margin, NHK said, citing exit polls.

It did not give exact figures, but Hanazumi also claimed victory in a speech to supporters.

The vote in Niigata, home to the world's largest nuclear power plant, was closely watched by LDP heavyweights in Tokyo as a gauge of voter readiness to re-embrace nuclear power.

Dozens of Japan's reactors were idled in the aftermath of the 2011 Fukushima nuclear disaster, including the Kashiwazaki-Kariwa plant in Niigata. Although many Japanese are wary of nuclear power, the Ukraine crisis and a tumbling yen have led to a surge in energy costs, hitting households.

In the last gubernatorial election in Niigata four years ago, nuclear power was the main issue. This time it ranked fifth for voters, according to a recent survey by the Niigata Nippo newspaper, having been eclipsed by economic concerns.

Hanazumi had been expected to win easily this time. During his campaign he tried to steer clear of the nuclear issue and when asked about it, echoed the government line that safety is the priority.

Kishida said on Friday Japan will take concrete steps to restart idled nuclear power plants with a priority given to safety, to stabilise energy prices and supply.

Only 10 nuclear reactors are operational in Japan, compared with 54 before the Fukushima disaster. The government aims to raise the nuclear power contribution in its energy mix up to 22% by 2030, from 6% in 2019.

(Reporting by Kantaro Komiya; Editing by David Dolan and Frances Kerry)

By Kantaro Komiya


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NIPPO LTD. 1.47% 689 Delayed Quote.-5.69%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. -0.15% 653 Delayed Quote.120.20%
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Financials
Sales 2022 5 141 B 37 886 M 37 886 M
Net income 2022 -34 850 M -257 M -257 M
Net Debt 2022 - - -
P/E ratio 2022 -30,1x
Yield 2022 -
Capitalization 1 046 B 7 710 M 7 710 M
Capi. / Sales 2022 0,20x
Capi. / Sales 2023 0,17x
Nbr of Employees 37 891
Free-Float 92,8%
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Mean consensus SELL
Number of Analysts 3
Last Close Price 654,00 JPY
Average target price 343,33 JPY
Spread / Average Target -47,5%
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Managers and Directors
Tomoaki Kobayakawa Executive President & Director
Yoshimitsu Kobayashi Chairman
Hideko Kunii Independent Director
Hideo Takaura Independent Outside Director
Shigeo Ohyagi Independent Outside Director
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