Japan’s Electric Power Development (TYO: 9513), otherwise known as J-Power, seems to have missed the memo that the Japanese government is determined to phase out nuclear power in short order. As of Monday, the firm resumed construction on an atomic reactor that was stalled since Fukushima.
The resumption of construction in Oma, some 400 miles north of Tokyo, marks the first operations since the Fukushima disaster back in March 2011.
According to Japan’s economy, trade, and industry minister Yukio Edano, the decision was made entirely by the company. J-Power itself hasn’t made any statements as to when work may be completed on the reactor.
Last month, Japanese Prime Minister Yoshihiko Noda’s government stated that it was committed to phasing out nuclear power by 2040, shutting down reactors that are nearly half a century old, shelving construction plans on new reactors, and applying stringent conditions to existing reactors before permitting renewed operations.
The declaration has been met with criticism, especially from industry groups, and there have already been difficulties due to several vague areas within the plan.
Since Fukushima, all 50 reactors in Japan have been shut off with the exception of two due to widespread public opposition against their use.
