Japan Utilities Drop on Nuke Safety Concern: Tokyo Mover
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Tokyo Electric Power Co. led declines among Japan’s utilities after Nikkei news report that a tariff increase will be less than anticipated amid escalating opposition to the country’s plans for restarting nuclear reactors and reorganizing the industry.
Tepco, as the utility at the center of last year’s nuclear disaster is also known, dropped 12 percent to 123 yen, a new low. Hokuriku Electric Power Co. plunged 8.3 percent to 1,115 yen after Kyodo News reported a fault line beneath one of the company’s reactors may be active. The Topix Electric Power & Gas Index fell 4.6 percent, the most in a year, after tens of thousands of people rallied in Tokyo to protest nuclear power.