Kyushu Electric Power Co. became Japan’s second nuclear power operator to ask for financial support this week.
Kyushu Electric said it was in talks with the Japan-owned Development Bank of Japan to buy 1 billion yen ($9.6 million) of preferred stock in the company, according to Reuters. Hokkaido Electric Power Co. asked the same bank for a $486 million lifeline on Tuesday. Kyushu said in the article that it estimated a net loss of 125 billion yen ($1.2 billion) for the year ended March 31.
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The shutdowns, coupled with having to import fossil fuels to keep the electricity flowing, have led to a loss of 3.2 trillion yen ($31 billion) at all nine of the country’s publicly traded nuclear operators, the article said.
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