Australian news, and some related international items

Japanese nuclear industry scandals this week

corruptionThis Week’s Japanese Nuclear Industry Scandals, Simply Info July 20th, 2015 | As Japan’s current government tries to force through reactor restarts, the process is running into some harsh reality. The NRA has found two major problems and it came out that Toshiba has been significantly falsifying their financial statements to hide major losses.

Japan’s NRA determined for a second time that faults under the Shika nuclear plant may stop it from nuke-earthquakebeing allowed to operate. A fault under the unit 1 plant as documented by the NRA would prevent it from being allowed to restart due to the active fault running under the reactor building. A second fault runs under the cooling water intake systems for units 1 and 2. Unless operators can convince the NRA that they have developed sufficient measures to prevent earthquake damage, the second unit may also be prevented from ever restarting………..

Toshiba’s recent multi billion dollar accounting scandal is said to have been initiated by the Fukushima nuclear disaster. The company coordinated and overstated profit projections across various corporate divisions to make the massive losses after the nuclear disaster look less significant. The company may also attempt to sell of some of their stake in Westinghouse nuclear. This would likely be at a significant loss since their current over 80% stake was purchased at the height of new reactor hype in 2006. Toshiba may now be fined heavily by the government for their accounting fraud in an attempt to make their financial losses appear less severe…………

July 22, 2015 - Posted by | Uncategorized

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