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Friday, May 23, 2008

Japan May Aid Nuclear-Plant Builders' U.S. Efforts, Nikkei Says

Japan's Agency for Natural Resources and Energy, a unit of the trade ministry, is considering offering financial aid to the country's nuclear-power-plant builders working on U.S. projects, Nikkei English News said, without saying where it obtained the information.

In a move to reduce investment risks of companies that participate in U.S. nuclear-plant projects, the agency might ask the Japan Bank for International Cooperation to make loans to companies such as Toshiba Corp., Mitsubishi Heavy Industries Ltd. and Hitachi Ltd., the news service reported.

U.S. and Japanese energy officials are scheduled to meet May 23 in Tokyo to discuss Japan's policy on aid to the U.S., which plans to build 30 nuclear reactors over the next 20 years, Nikkei said.

Japan has an increasing stake in the U.S. nuclear market, the news service said. Toshiba, which bought Monroeville, Pennsylvania-based nuclear-power-systems builder Westinghouse Electric Co., has secured orders in the U.S., and Hitachi is exploring the U.S. market by teaming up with General Electric Co., Nikkei said.

(Source: Bloomberg)

1 comment:

Anonymous said...

A story I've been following privately over the last few years is how over time more and more of the US economy is being ran from Tokyo.

Few people are aware of it, but each year more Americans work for Japanese companies, more of the things they buy are made by Japanese companies.. Japan owns more of the capital in the country. And the Japanese do it in a non-headline grabbing way, just gradual but constant growth over a long period of time.

The reasons are the Japanese are really good at running huge corporations. Whereas the American way of Wallstreet running the corporations producers short term profits.. but the Japanese think over like decades or even a century. So stock analysts thought buying Westinghouse was a stupid idea on the part of Toshiba, as it hurt its bottom line for the next quarter and next year. But for the Japanese they could see over the next 50 years the wealth Westinghouse could generate was huge.

To take a much larger role in building power plants in America is just another step on the road for the Japanese. They already play a big part building turbines and other electrical equipment for North American power plants.