Source:  The Wall Street Journal Asia                       Date: 08 July, 2010

Japan has moved to secure its role in the global, civil nuclear sector by setting up a government-backed organization to promote Japanese technology and fight off competition for multibillion-dollar contracts from rivals such as South Korea. Six companies—Tokyo Electric Power Co., Chubu Electric Power Co., Kansai Electric Power Co., Toshiba Corp., Hitachi Ltd., and Mitsubishi Heavy Industries Ltd.—said Tuesday that they have set up a preparatory organization to sell nuclear-power-plant construction and operation technologies overseas.

"This is the first, important step toward promoting Japan's nuclear-power technologies in emerging countries by private- and public-sector cooperation," said Mr. Masayuki Naoshima, Japan's Minister of Economy, Trade and Industry, following the joint announcement. The government hasn't disclosed the value of its planned investment in the group.

Of the six companies, Hitachi and Mitsubishi Heavy already are in cooperation with General Electric Co. and Areva SA in the nuclear-power sector. The two Japanese concerns' participation in the six-company organization won't affect their current relationships, and they will continue to work with GE and Areva when necessary.