TOKYO - the closure of the surprise of another Japanese nuclear plant, this time in the supplier of power at the heart of the automotive industry, threatens to dampen consumer and will give automakers yet another reason to produce fewer cars on the Japan.
CHUBU Electric Power (9502.T) agreed Monday to close its plant in Hamaoka du Centre du Japan, raising concerns about the steady supply of the power of his region, home to Toyota Motor Corp. (7203.T) and other major manufacturers.
The closure has been requested by the gouvernement, who chose the Hamaoka as particularly vulnerable to a major earthquake and tsunami, after the earthquake of magnitude 9.0 on 11 March triggered a nuclear crisis in the Northeast.
Output disturbances is perhaps not large enough to delay the recovery of the country because Chubu is taking steps to meet the demand of the summer peak by restarting thermal energy and electricity from another utility security in the West of Japan.
But the lack of clarity on how long-term energy policy could change following the disaster of March 11 could encourage Japanese manufacturers to move more production overseas and discourage private consumption.
"We can rely on thermal energy in the short term, but this raises costs and emissions, said Yasuo Yamamoto, Senior Economist at the Research Institute Mizuho."
"In the future, we do are not sure that what the Government wants to do." More that the uncertainty on the power supply continues, companies more will start thinking about manufacturing overseas. ?
The factory of Hamaoka, located about 200 km (120 miles) southwest of Tokyo, accounts for about 15% of its electricity production. Chubu provides to turn the power in half of the 18 plants that make Toyota vehicles to the Japan and Suzuki Motor Corp. (7269.T) four domestic factories for car and motorcycle.
The coverage area includes also other plants auto, including those of Honda Motor Co (7267.T) and Mitsubishi Motors Corp (7211.T), but Toyota is the most vulnerable because of its heavy ratio of cars made in the Canada.
Toyota and Honda have been forced to operate at about half the levels prior to March 11 because of the shortage of components. They have planned a return to levels of normal production later this year.
The Chubu region also includes a concentration of manufacturers in the flat display and semiconductor industries, as Sharp Corp. (6753.T) factory to Kameyama LCD and semiconductor Yokkaichi plant Toshiba Corp. (6502.T).
Toyota, Suzuki and other automakers have said that they had no comment on how they would face before Chubu Electric explains how it intends to compensate for the lack of power.
Replacement of nuclear power plants with that produced by conventional power plants could increase electricity costs, but those who represent only a small part of the costs of automobile manufacturers, argues Nomura Securities auto analyst Masataka Kunugimoto.
What matters most, analysts say, is doubt about the reliability of supplies that could give some automakers another reason - in more than a yen stronger and cheaper to work abroad - to reduce production volumes to the Japan.
"This raises a question of how you will divide your production home and abroad," said Koji Endo, analyst at the Japan for advanced research.
Toyota and Nissan have publicly committed to a minimum level of domestic production to perpetuate the tradition of the Japan of manufacturing, but the issues surrounding energy policy could force a redesign, Endo said.
Impact of the closure on households can be more direct and immediate. Electricity shortages or an increase in electricity bill can compel homes served by Chubu Electric to save energy more or less on everything else, spend damaging sense already depressed by leaks of radiation of the Fukushima plant in Northeast ravaged by the tsunami.
Accounts of consumer privacy more than 50 percent of gross domestic product and lame of the Japan economy has badly need spending to maintain consumers.
"Chubu Electric is likely to lead to a campaign to save energy, which can depress private consumption," said Takuji Okubo, Chief Economist of the Societe Generale securities.
"Businesses should be able to cope, but weak consumer sentiment could become a national phenomenon".
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