Japanese Anti-Nuclear Candidate’s Victory Punishes Tepco Shares
- Niigata prefecture home to world’s biggest nuclear facility
- Tepco says reactor restart would boost profit 10 bln yen/month
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Tokyo Electric Power Co. Holdings Inc. fell the most since June after the election victory of a gubernatorial candidate opposed to the restart of the utility’s Kashiwazaki Kariwa nuclear plant, the world’s biggest by capacity.
Ryuichi Yoneyama, who was backed by a collection of opposition parties, garnered 528,455 votes, or 52 percent of the total in Niigata, according to its election administration commission. Yoneyama said Sunday he can’t approve the restart of the seven-reactor nuclear facility in his prefecture under its current status, according to Jiji Press. Tokyo Electric, known as Tepco, dropped 7.9 percent to close at 385 yen.