A decision by the Osaka Municipal Government, Kansai Electric Power Co.'s biggest shareholder, to suggest abolishing the company's nuclear power plants at a general shareholders meeting in June has stirred ripples.The municipal government is expected to ask the Kobe and Kyoto municipal governments, which also hold shares in the power company, to follow suit, but individual shareholders, who account for one-third of the company's shares, could also sway the company.
Osaka Mayor Toru Hashimoto has underscored the city's right to make proposals as a shareholder from the time of the Osaka mayoral election last autumn. Kansai Electric Power Co. (KEPCO) President Makoto Yagi has sought dialogue with the city, stating, "I'd like to provide a full explanation to win understanding of our business activities." However, guidelines compiled by the Osaka Municipal Government's energy strategy council on March 18 declared "an end to all nuclear power plants as soon as possible" -- seeking complete abolition of nuclear power. At present KEPCO appears unlikely to comply with requests to eliminate nuclear power. Read More
