1. The Tokyo Electric Power Company, Inc., Chubu Electric Power Co., Inc., the Kansai Electric Power Co., Inc., Toshiba Corp., Hitachi, Ltd., and Mitsubishi Heavy Industries, Ltd., today announced that they had organized a “Preparatory Office” for the establishment of the “International Nuclear Development,” an institution through which different entities in Japan’s industry work in coordination to make proposals for nuclear development projects in countries newly introducing nuclear power generation.

2. The formation of the Preparatory Office is a significant first step toward the public-private joint promotion of the Japanese nuclear industry’s business expansion in emerging countries. To begin with, the Office is expected to act vigorously in addressing the immediate goal of winning the contract for Vietnam’s nuclear energy project through efforts such as compiling Japan’s proposal and dispatching a mission.

3. The nuclear energy industry is stated as a key field in the category of “packaged infrastructure development in overseas markets” in the “New Growth Strategy - Strong Economy, Robust Public Finances & Strong Social Security System -” the government’s recently formulated policy. I expect that the new company will be a major driving force for the fulfillment of this goal.

4. From these perspectives, the Ministry of Economy, Trade and Industry will swiftly work on policy issues in cooperation with related ministries. These include holding high-level inter-governmental talks, facilitating the conclusion of an agreement of nuclear energy cooperation, assisting the other country in laying the groundwork (development of human resources, the legal framework, etc.), and enhancing the risk compensation capability of public agencies.

July 6, 2010
Masayuki Naoshima
Minister of Economy, Trade and Industry

Nuclear Energy Policy Planning Division