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Finance GreenWatch » 8.Eathquake & Nuclear accident » Osaka Courts Shareholders to Scrap N-Power at Kansai Elec(JIJI)

Osaka Courts Shareholders to Scrap N-Power at Kansai Elec(JIJI)

Mayor of Osaka City, Mr. Hashimoto

 Osaka, May 28 (Jiji Press)–The city government of Osaka sent documents to major shareholders of Kansai Electric Power Co. <9503> on Monday, urging them to back its proposal for the company to give up nuclear power production.
Osaka, the top shareholder of Kansai Electric, with a stake of some 9 pct, has been demanding the power supplier to scrap all its nuclear plants as quickly as possible.

The documents, issued in the name of Osaka Mayor Toru Hashimoto, were sent to some 150 firms and municipalities that hold 100,000 or more shares of Kansai Electric but not to individuals or offshore shareholders.

The documents were also not sent to the neighboring Kyoto and Kobe city governments, which are both Kansai Electric shareholders, as the two cities already plan to join Osaka in putting forward proposals at the company’s annual general shareholders’ meeting June 27.

At the end of April, the city government submitted a total of 10 proposals to the company. These include significantly boosting the use of renewable energy sources, separating power generation and distribution operations, halving the number of board members and no longer accepting former public officials as senior executives.

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