Society

Toshiba to pay $3.68 billion for Westinghouse reactors in U.S.

Jun 11 (Japan Today) - Money-losing Japanese nuclear and electronics company Toshiba Corp will pay $3.68 billion toward the construction of two reactors in Georgia by its U.S. unit Westinghouse, which has filed for bankruptcy protection.

Tokyo-based Toshiba said Saturday the payment, under agreement with the operator of the Vogtle plant, will be made from October through January 2021.

Toshiba said the expense has already been figured in its earnings. Toshiba reported a 950 billion yen ($8.6 billion) loss for the fiscal year ended March.

Paul Bowers, chief executive of Georgia Power, the utility working with Westinghouse to expand Vogtle, welcomed the deal.

"We are pleased with today's positive developments with Toshiba and Westinghouse that allow momentum to continue at the site while we transition project management from Westinghouse to Southern Nuclear and Georgia Power," he said referring to his company and its parent.

Costs in the nuclear industry have ballooned since the March 2011 nuclear disaster in northeastern Japan, as safety requirements get tougher and the construction of the Westinghouse reactors has fallen behind schedule. Toshiba is still in similar talks over a South Carolina plant about such payments.

Do Bears Prefer Acorns or Berries?

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Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

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Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

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