Tokyo, Japan — ESI-AFRICA.COM — 24 May 2011 – Toshiba Corporation says it may need to push back by several years its target to capture 39 orders for nuclear reactors by March 2016, as governments tighten regulations in the wake of the crisis at the Fukushima Daiichi nuclear plant in Japan.
In a statement issued here, the company said orders for four AP1000 reactors in China were on target, but approval delays in the United States and other countries could block its goal to expand nuclear sales to US$12.2 billion in four years.
Engineers are battling to plug radiation leaks and bring the Fukushima nuclear plant, northeast of Tokyo, under control more than two months after an 8.9 magnitude earthquake and deadly tsunami devastated a swathe of Japan’s coastline and tipped the economy into recession.
Toshiba “’ which has set up a 1,900-person team to help operator Tokyo Electric bring the plant under control “’ also said it would tap US$8.6 billion of its funds to build new revenue streams and invest in its flash memory chips, batteries, smart grids and production in emerging countries.
The Nikkei business newspaper said earlier that Toshiba would invest the money in the environment and energy sectors over the next three years, as the Fukushima crisis cast a shadow over the prospects for the firm’s nuclear power business.
Toshiba also said it aimed to more than double its operating profit to US$6.1 billion in the year to March 2014, from US$3 billion in the year ended in March 2011.