The Kansai Electric Power Company, Incorporated | Partial Amendment to the Articles of Incorporation of the Company: Direct disposal of spent nuclear fuel at The Kansai Electric Power Company, Incorporated

Status
AGM passed
AGM date
Proposal number
15
Resolution details
Company ticker
9503
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Waste and pollution
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The chapter described below shall be newly established in the Articles of Incorporation of the Company. Chapter 12 Direct Disposal of Spent Nuclear Fuel Article 51 The Company shall directly dispose of spent nuclear fuel without reprocessing.
Supporting statement
Construction of the Rokkasho Reprocessing Plant began in 1993, but remains incomplete even after 33 years. The initial construction cost was 700 billion yen. However, as of June 2025, construction costs have risen to 3 trillion yen, with total project costs exceeding 15 trillion yen and likely to increase further. Although completion of the plant has already been postponed 27 times, Mr. Naohiro Masuda, Executive President and CEO of Japan Nuclear Fuel Limited (JNFL), has stated that completion within FY2026 is “highly probable.” However, JNFL intends to conduct testing of the vitrification process of converting high-level radioactive liquid waste into glass solidification forms, arguably the most technically challenging stage of the reprocessing plant operations, only after completion of the plant. Meanwhile, the Nuclear Regulation Authority has indicated that it will not permit new fuel shearing unless the remaining 210 m³ of liquid waste from past active tests is successfully vitrified. Even if the plant is completed as scheduled in FY2026, reprocessing operations may not be feasible. In that case, new spent nuclear fuel could not be transported to the Rokkasho Reprocessing Plant, causing the Company’s roadmap to collapse. The nuclear fuel cycle is nonviable.

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