Kansai Electric expects first net profit in five yearsStaff writer ▼ | February 1, 2016
Kansai Electric Power Co. said it expects to swing to a group net profit for the first time in five years in the fiscal year through March.
Nuclear energy The restart of a reactor in central Japan
Kansai Electric Power expects to post a net profit of ¥150 billion for the current year, compared with a loss of ¥148.3 billion in the previous year.
In addition to the No. 3 reactor, which was reactivated Friday afternoon, Kansai Electric plans to restart the No. 4 reactor at the plant in Fukui Prefecture in late February.
The restart of the two reactors is seen as improving Kansai Electric’s earnings by ¥5 billion per reactor each month. The company is also benefiting from falling fuel prices.
Kansai Electric’s dependency on nuclear power was the highest of Japanese power companies with nuclear plants before the March 2011 triple meltdown at Tokyo Electric Power Co.’s Fukushima No. 1 nuclear plant. ■