Fidelity Spurns Japan Utilities as Goldman Says ‘Buy’
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Fidelity Investments has stopped actively investing in Japan’s atomic power producers as opposition to nuclear reactors and the scrapping of dividends removes incentives to hold the stocks.
“There’s no reason to invest in the utilities if the nuclear plants stay offline and dividends don’t come back,” Masahiro Fukuda, a Tokyo-based director at Fidelity Investment Japan, whose parent manages $1.6 trillion globally, said in a phone interview Nov. 15. “Public opposition means it’s unlikely that the reactors will be allowed to restart.”