http://online.wsj.com/video/the-future-of-japan-nuclear-policy/C061BDA8-97E0-4B9F-AC28-4B4FEAF3E796.html
A local election in southern Japan pits a pro-nuclear-energy incumbent against an anti-nuclear-energy candidate in the first big electoral test for how far the country will go in pulling the plug on nuclear power. WSJ’s James Simms explains.
Fidelity, BlackRock and Vanguard loaded up on shares of Tokyo Electric Power, operator of Japan’s earthquake-stricken nuclear plant, in the quake’s aftermath, Nikkei reports.
Shares in Tokyo Electric plunged in March as the crisis at its Fukushima Daiichi generator worsened following the March 11 quake and tsunami. Its shares have remained low, and foreign investors have been net sellers for the past month, according to a trader at a foreign brokerage speaking to Nikkei.
Fidelity’s stake in the company, however, grew by a factor of 13.5 between year-end and the end of March, to 1.83 million shares. BlackRock’s U.S. and U.K. arms increased their combined holdings by 19%, to 13.74 million shares, and Vanguard’s stake was up 5%, to 8.93 million shares.
Tokyo Electric is unlikely to deliver shareholder dividends or other profit returns for the foreseeable future, given that no cap has been placed on its compensation liabilities, Nikkei also reports.
