Analysis of the Impact of the Restart of Japan's Kashiwazaki-Kariwa Nuclear Power Plant on Asia-Pacific Energy Policies and Nuclear Energy Concept Stocks

Japan’s Kashiwazaki-Kariwa Nuclear Power Plant (total installed capacity of 8.212 GW, one of the world’s largest nuclear power plants [4]) has been approved for restart, marking the first restart project operated by TEPCO after the 2011 Fukushima nuclear accident [2][3]. This event aligns with the Japanese government’s “doubling nuclear power generation to approximately 20% by 2040” energy strategy, aiming to reduce dependence on imported fossil fuels [3].

From the perspective of regional energy policies, the restart may provide a demonstration for other Asia-Pacific countries considering nuclear power [1]. However, the actual impact depends on each country’s energy demand, nuclear safety standards, and public acceptance, and the regional promotion effect has only been partially verified [1].

In terms of stock market performance, TEPCO (9501.T) rose 0.85% on the day [0], reflecting market expectations of lower fuel costs and enhanced profitability. The utility sector overall increased by 1.48% [0], indicating that the market’s optimism about the nuclear power restart extended to the entire energy supply industry. However, Kansai Electric Power (9503.T) and Korea Electric Power (015760.KS) fell by 2.30% and 1.21% respectively [0], which may be related to company-specific factors or regional market trends rather than direct impacts of the restart. Meanwhile, the energy sector (fossil fuels) declined by 1.62% [0], reflecting market expectations of reduced demand for fossil fuels.

1. Policy signal significance outweighs short-term impact
   : The restart is an important milestone in Japan’s nuclear power policy shift, indicating its strategic focus on nuclear energy in energy transition rather than relying solely on renewable energy [3].
2. Differentiated regional impact
   : For countries/regions with high nuclear power dependence such as South Korea and Taiwan, the restart may strengthen their confidence in nuclear power development; while for countries with high public concerns about nuclear safety (e.g., Germany), the impact is limited [1].
3. Structural differences in stock market reactions
   : Nuclear power operators (especially TEPCO directly involved) benefit from restart expectations, while fossil fuel-related enterprises face pressure [0].
4. Public acceptance remains a long-term risk
   : 60% of Niigata Prefecture residents do not support the restart, and 70% do not trust TEPCO [2], which may affect the promotion of Japan’s future nuclear power policies and regional public attitudes towards nuclear power.

• Opportunities
  :
  • Japanese nuclear power industry chain enterprises are expected to benefit from equipment maintenance and technology update demands brought by the restart [0].
  • Policy shifts in Asia-Pacific countries related to nuclear power may provide market opportunities for global nuclear energy equipment suppliers [1].
• Risks
  :
  • The restart still needs to obtain final approval from Japan’s nuclear regulatory authority [3], with the risk of time delay.
  • Public opposition and nuclear safety concerns may affect the restart plans of other nuclear power plants in the future [2].
  • Uncertainty in regional energy policies may lead to fluctuations in nuclear energy concept stocks [0].

The approval of the restart of Japan’s Kashiwazaki-Kariwa Nuclear Power Plant is a key step in its energy strategy transformation, which has a certain demonstration effect on Asia-Pacific energy policies, but the actual impact needs to be analyzed in combination with the specific situation of each country. In terms of the stock market, TEPCO and the utility sector performed positively on the day, reflecting the market’s positive expectations for the nuclear power restart. However, public acceptance and nuclear safety concerns remain key challenges for long-term development.

All data and analysis are labeled as internal database [0] and external sources [1]-[4] respectively.