Profit Outlook: Project and Japanese Companies

profit outlook: We've reached limits in further investing in the British nuclear project Hitachi President Toshiaki Higashihara said at a news conference, noting that the Japanese conglomerate will focus on domestic business over nuclear power operations in the years ahead, according to The Japan Times. Higashihara said he cannot rule out restarting the project but that the prospects of doing so are unclear. The freezing of the project in Anglesey in Wales would mean that all major overseas nuclear projects involving Japanese companies have seen setbacks amid the government's efforts to promote exports of nuclear technology. ; Hitachi said it will book a special loss of 300 billion in the year ending in March, and cut its net profit outlook for the year to 100 billion from its previous forecast of 400 billion. He denied that the political turmoil regarding the Brexit deal affected the decision-making. Hitachi's Japanese rivals are facing more or less the same situation. The project, which Hitachi joined in 2012, was part of the conglomerate's strategy to expand its nuclear power business abroad, amid dimming prospects for new reactor demand in Japan in the wake of the Fukushima meltdowns that was triggered by the March 2011 earthquake and tsunami disaster. (news.financializer.com). As reported in the news.