Utilities face ‘denuclearization’ motions as shareholders gather
Jun. 27, 2011
Six of the country's nine electric power companies with nuclear power plants are facing ''denuclearization'' motions at their regular shareholders' meetings next Tuesday or Wednesday, with eyes on how many votes such motions will collect amid growing public concerns over the safety of such plants.
None of the motions is expected to be approved because most of them are being proposed by individuals who have a limited number of votes and they need two-thirds votes to change the articles of incorporation in their favor.
But if enough votes are cast against nuclear power, these utilities may come under pressure to rethink their atomic power operations in light of the disaster at Tokyo Electric Power Co.'s Fukushima Daiichi nuclear power plant.
Hisataka Yamasaki, a Tokyo Electric shareholder who has proposed the initiative for roughly 15 years, said that while only 3 to 4 percent of the utility's shareholders vote for it every year, ''the percentage should be much higher this year.''
The other five utilities facing the motions are Tohoku Electric Power Co., Chubu Electric Power Co., Kansai Electric Power Co., Chugoku Electric Power Co. and Kyushu Electric Power Co.
In letters sent to their shareholders, all six utilities have expressed their opposition to the motions, which variously call for abandoning nuclear power, withdrawing from nuclear power and switching the source of power generation from nuclear energy to natural ones.
(Distributed by Kyodo News on June 25, 2011)
None of the motions is expected to be approved because most of them are being proposed by individuals who have a limited number of votes and they need two-thirds votes to change the articles of incorporation in their favor.
But if enough votes are cast against nuclear power, these utilities may come under pressure to rethink their atomic power operations in light of the disaster at Tokyo Electric Power Co.'s Fukushima Daiichi nuclear power plant.
Hisataka Yamasaki, a Tokyo Electric shareholder who has proposed the initiative for roughly 15 years, said that while only 3 to 4 percent of the utility's shareholders vote for it every year, ''the percentage should be much higher this year.''
The other five utilities facing the motions are Tohoku Electric Power Co., Chubu Electric Power Co., Kansai Electric Power Co., Chugoku Electric Power Co. and Kyushu Electric Power Co.
In letters sent to their shareholders, all six utilities have expressed their opposition to the motions, which variously call for abandoning nuclear power, withdrawing from nuclear power and switching the source of power generation from nuclear energy to natural ones.
(Distributed by Kyodo News on June 25, 2011)
