Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

More than 80% of Japanese firms back nuclear restart, tourism resumption

by
June 16, 2022
in Investing News
0
More than 80% of Japanese firms back nuclear restart, tourism resumption
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter
International Atomic Energy Agency (IAEA) experts visit Fukushima Daiichi Nuclear Power Station in Japan in November 2013. — Greg Webb / IAEA

TOKYO — A large majority of Japanese companies support both restarting idled nuclear reactors and this month’s resumption of foreign tourism, a Reuters survey showed, highlighting broad approval for two measures seen as likely to ease strain on the economy. 

Results of the monthly Reuters Corporate Survey are among the strongest signs yet of Japan Inc.’s endorsement of a return to nuclear power, as higher global energy prices and a tumbling yen drive up input costs for manufacturers and squeeze households. 

Nuclear power remains a sensitive issue in Japan after a devastating earthquake and tsunami in 2011 crippled the Fukushima Daiichi plant and caused the world’s worst nuclear accident since Chernobyl. But rising energy prices from the Ukraine crisis appear to be turning public opinion on the issue. 

“Until we get new energy sources, such as hydrogen, economic activity won’t move forward without restarting nuclear reactors,” a manager at a paper and pulp company wrote. 

Japan idled the bulk of its nuclear reactors — more than 40 — in the aftermath of the Fukushima disaster, leaving it with around 10 operational now. 

Overall, 85% of firms were in favor of restarting nuclear reactors if safety requirements were met, according to the poll of 500 large and mid-size non-financial firms conducted from June 1 to 10 by Nikkei Research for Reuters. Around 240 firms responded. 

Their comments showed economic concerns playing a prominent role in consideration of nuclear power. 

“Structural power shortages have a big impact on the economy, making nuclear power restart essential,” wrote a manager at a wholesaler. 

The results compared with those of the April survey, in which almost 60% of firms said the government should move “quickly” to restart reactors. The latest survey did not ask about timing of a restart, however, so direct comparison is difficult. 

A public opinion poll by the Nikkei newspaper in March showed 53% of voters believed the government should restart reactors. 

WELCOME BACKSimilarly, the survey showed 89% of firms welcoming the government’s decision to again permit limited inbound foreign tourism. Many firms expected the move would aid in the recovery from the pandemic —  though it suggested they did not want border limits to be fully relaxed until 2023. 

Since June 10, the government has allowed a limited number of foreign tourists to enter on package tours. This is a first phase, after two years of coronavirus disease 2019 (COVID-19) curbs. 

Policymakers have faced the difficult task of trying to balance the economic benefits of tourism with concerns that travelers would trigger a COVID resurgence. 

An industry executive said local governments remained worried that foreign tourists might spread the virus, which would make it hard to open the country fully. 

About a quarter of firms said the government should bring the number of foreign visitors back to pre-pandemic levels this year, while 58% said it should wait until 2023 before doing so. 

“You cannot rule out the possibility (a re-opening) could trigger resurgence of infections,” a manager at a ceramics company wrote in the survey on condition of anonymity. “However, vaccines are keeping infections from becoming worse. Even considering the risk, merits stemming from inbound demand outweigh demerits.” 

Before the COVID-19 outbreak, tourism was a rare bright spot for Japan, with a record of about 32 million foreign tourists spending 4.81 trillion yen ($35.80 billion) in 2019. The government aims to bring in 60 million tourists a year by 2030. 

Japan imposed some of the strictest border controls in the world during the pandemic, banning the entry of almost all non-residents and causing tourism demand to plunge. 

Seven out of 10 firms in the survey expected that, upon easing of border measures, inbound tourism would help boost economic growth “somewhat” this fiscal year, while 18% saw it “greatly” contributing to growth. — Tetsushi Kajimoto/Reuters

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Facing deadlock, WTO negotiations grind on despite Indian defiance

Facing deadlock, WTO negotiations grind on despite Indian defiance

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Over half of UK businesses plan to adopt intelligent automation to address spiralling costs

Over half of UK businesses plan to adopt intelligent automation to address spiralling costs

July 14, 2022
China not seen to budge from maritime activities after NATO branding

China not seen to budge from maritime activities after NATO branding

July 3, 2022
Revlon files for bankruptcy, blames supply chain snags

Revlon files for bankruptcy, blames supply chain snags

June 17, 2022
Stanway stunner sends England past Spain into Euro semis

Stanway stunner sends England past Spain into Euro semis

July 21, 2022
Baguio City gov’t to purchase private properties for economic projects, housing 

Baguio City gov’t to purchase private properties for economic projects, housing 

June 16, 2022
US carries out missile test delayed over Chinese drills

US carries out missile test delayed over Chinese drills

August 17, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.