Hitachi loss in nuclear business

Hitachi may opt out of Nuclear business weighing the loss it has incurred.

Electronics firm Hitachi has announced that the group’s subsidiary in the nuclear fuel business will post a loss of about 590 million dollars for the fiscal year ending in March.

Hitachi and GE jointly created the firm to develop new technologies for uranium enrichment for nuclear power plants.Officials say after reviewing the value of the business, they were unable to forecast growth in the future.

Hitachi entered the business in 2007 expecting an increase in the construction of new nuclear plants.But the accident at Fukushima Daiichi nuclear plant in 2011 has seen the nuclear power industry fall into a slump.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s