(Reuters) - Four major Japanese utility and engineering companies entered an alliance to combine all their nuclear operations under a combined company, Japan's Nikkei business daily said on Wednesday.
Tokyo Electric Power Company Holdings Inc (TEPCO) <9501.T>, Hitachi Ltd <6501.T>, Toshiba <6502.T> and Chubu Electric Power Co Inc <9502.T> have entered negotiations into the possibility of jointly decommissioning obsolete reactors, Nikkei said. (https://s.nikkei.com/2nUx6DI)
None of the companies were available for comment, outside market hours.
The move comes seven years after the Fukushima disaster that resulted in a devastating meltdown at TEPCO's nuclear power station. The disaster spurred new safety standards which raised safety-related costs.
TEPCO has 11 boiling-water reactors, while Chubu Electric has five currently offline since the disaster, with a number of them unlikely to get official approval to restart, the newspaper added.
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by James Dalgleish)
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Updated Date: Aug 22, 2018 05:05:21 IST