The Nikkei Average opened about ¥1,000 lower at ¥63,495, falling below ¥64,000 for the first time in about a week. US stocks fell on the impact of higher crude oil prices, with the decline spreading to the Japanese market.
The Nikkei Average opened about ¥1,000 lower in morning trading and is currently trading at around ¥63,495. This is the first time in a week that it has fallen below ¥64,000. The backdrop is the rise in crude oil futures above $100 a barrel, with the increase in WTI prices cited as a factor behind the decline in major stock indexes. The fall in all 3 major US stock indexes has spread to the Japanese market.
Chubu Electric announced that a report on the cost of decommissioning the Hamaoka nuclear power plant had been falsified. It emerged that the company had received total payments of about ¥800 million after 14 instances of intentional rewriting. The head of the nuclear power division said that the actions had “disrupted NuRO’s business processes” and indicated that the investigation would continue. In response, the Ministry of Economy, Trade and Industry ordered the submission of a report on the facts, signaling a strong stance on tighter oversight.
Following Chubu Electric’s falsified report, JAL decided to introduce aircraft-washing robots at Narita Airport for the first time, while Yellow Hat is suspected of having suffered unauthorized access involving the leakage of membership information belonging to about 1.8 million people and is currently working with the police to address the matter. Separately, other news directly affecting households and industry includes consideration of introducing a Kyushu earthquake-recovery support travel discount, September increases in electricity and gas rates, and a downward trend in rice prices.
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