While the Japanese nuclear power industry struggles to remain profitable through an extended post-Fukushima Daiichi industry slowdown and the subsequent safety mandates, the government is now considering financial assistance for companies that pursue nuclear construction projects in Britain.
The government is studying an option for financing companies through “state-affiliated” banks, The Japan Times reported Friday.
The report was underscored by remarks from British Chancellor of the Exchequer Phillip Hammond, who is in Tokyo this week. Hammond told reporters that Britain was in discussions with Hitachi Ltd., Toshiba Corporation and the Japanese government to work out guidelines for loans to finance nuclear plant projects in Britain.
Hammond reportedly met with Chief Cabinet Secretary Yoshihide Suga to discuss the issue. Follow up meetings involving officials from Hitachi, Toshiba, the Japan Bank for International Cooperation, the Development Bank of Japan and British Business, Energy and Industrial Strategy Secretary Greg Clark are planned. Clark will be in Japan next week to continue the dialogue.
The plans also include financial assistance for Horizon Nuclear Power, a Hitachi division, and NuGeneration Ltd., a Toshiba division.