The increasingly poor economics of the nuclear power plant business have persuaded HITACHI, LTD., TOSHIBA CORP. and GENERAL ELECTRIC CO. to combine their nuclear fuel operations (see Japan-U.S. Business Report No. 349, October 1998, p. 5). The longtime collaborators will form a company this year that will be responsible for the design, development, production and sale of fuel rods for nuclear plants. The new firm will incorporate the trio's existing Japanese joint venture, JAPAN NUCLEAR FUEL CO., LTD., as well as GE's Wilmington, North Carolina nuclear fuel plant. The American partner reportedly will own 60 percent of the integrated operation.
An exchange rate of ¥120=$1.00 was used in this report. aaaaa