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Stimulating the economy

by Japan Times

Economic reports made public April 28 by the government and the Bank of Japan underscore the rapid deterioration of the Japanese economy in the aftermath of the March 11 earthquake and tsunami and the Fukushima nuclear plant accidents. A trade and industry ministry report states that the industrial and mining production index for March sank a record 15.3 percent from the previous month - surpassing the 8.6 percent drop in February 2009 after the Lehman Brothers shock. Overall production activities fell 31.9 percent in the devastated areas and 13.5 percent in other areas. (Japan Times)

Utility eyes LNG for Hamaoka decision

by Japan Times

Chubu Electric Power Co. was planning to hold another extraordinary board meeting Monday to determine the fate of its controversial Hamaoka nuclear power plant in Shizuoka Prefecture as its chairman flew to the Middle East to shop for LNG. The power plant, which was built close to a known fault line, was urged to close Friday by Prime Minister Naoto Kan, who is concerned another catastrophic quake - the widely feared "big one" - could produce another nuclear disaster south of Tokyo. (Japan Times)