July 14 (Bloomberg) -- Mitsubishi Heavy Industries Ltd. and Toshiba Corp. will jointly develop a new type of nuclear reactor with the backing of the Japanese government, public broadcaster NHK reported, citing an unidentified person familiar with the plan.

The reactor will be more fuel efficient and earthquake resistant than conventional models. The government wants the companies to develop the reactor by 2025, NHK said.

Last Updated: July 13, 2009 18:37 EDT