The decision by Chubu Electric Power Co. to shut down the Hamaoka nuclear power plant in Shizuoka Prefecture is testament to the long-lasting and far-reaching impact of the March 11 megaquake.
In fact, the shutdown, decided Monday, may signal an inevitable shift away from a policy of nuclear dependence. Financially speaking, the move affects not only the utility company but also Japan's core manufacturing sector.
"There is no doubt the shutdown (of Hamaoka) has a negative impact on manufacturers such as Toyota Motor Corp. and Suzuki Motor Corp., which operate factories in the Chubu region," Daiwa Securities Co. analyst Takahiko Makabe told The Japan Times on Tuesday.