Japanese Utilities Plunge After Court Injunction on Reactors
- Kansai Electric Power shares decline most since October 1987
- Power company prevented from running two reactors in Takahama
Kansai Electric Plunges After Court Orders Reactor Halt
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Kansai Electric Power Co. fell by the most in more than 28 years, leading Japanese utilities lower after a court injunction prevented the company from operating two nuclear reactors, threatening the country’s return to atomic power five years after the Fukushima disaster.
Kansai Electric, Japan’s second-largest power utility, closed down 15 percent at 1,047 yen in Tokyo on Thursday, the biggest drop since October 1987. The 20-member Topix Electronic Power & Gas Index slumped 3.1 percent, compared with a 1.5 percent rise in the broader index.