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Nuclear plant supplier slides

Bloomberg

Japan Steel Works Ltd., a nuclear plant parts supplier for customers including Areva SA, fell the most in two months in Tokyo trading after the Nikkei reported that workers at a factory will take time off as orders decline.

Shares fell 5.4 percent, closing at ¥490 on Monday, the biggest loss since Feb. 5. Japan Steel Works was the biggest decliner among stocks listed on the Nikkei 225 stock average.

About 500 workers, or 70 percent of the total workforce at the Muroran plant in Hokkaido, have accepted a proposal by the company to take about two days off a month for the six months starting mid-April, spokesman Akito Aiuchi said Monday.

“The company’s nuclear business in Japan will be tough for a while,” said Masayuki Otani of Securities Japan Inc.