Japan’s forced nuclear shutdown undermined its world-leading heavy electrical and nuclear industries.
While global demand for nuclear power was rising, political decisions extinguished Japan’s technological advantage, imposed higher energy costs on manufacturers, and accelerated corporate decline.

2016-01-05
Masayoshi Son was not satisfied with creating a situation in which the combined profits of Japan’s nine major electrical manufacturers fell short of Samsung’s profits by as much as 200 billion yen.
He went further, attempting to eradicate Japan’s world-leading nuclear technology itself.

It is no exaggeration to say that nuclear reactors cannot be built without the technology of Japan Steel Works.
Such was the level of Japan’s nuclear expertise.

At the time, the world was naturally moving toward nuclear power expansion.
Global warming had long been recognized as a serious issue.

Japan’s three world-class heavy electrical manufacturers were also investing heavily in nuclear plant manufacturing and exports.
Toshiba, as Masayuki Takayama once explained to me, had spent an enormous sum to acquire Westinghouse, a company superior even to GE.

Then came Masayoshi Son, Naoto Kan, and Mizuho Fukushima—three figures of a most unfortunate kind.
Together, they decided on a complete shutdown of Japan’s nuclear power plants.

Becoming a country with all nuclear plants shut down meant that, no matter how advanced Japan’s technology was known to be,
both the motivation to adopt and the motivation to export nuclear technology were dealt a fatal blow.

That is the true reason behind the hardships Toshiba faces today.

Meanwhile, Son, having brought major renewable energy companies under his control,
not only skillfully manipulated Naoto Kan—who was clinging desperately to power—but prolonged his political life.

He also succeeded in forcing the government to purchase solar power—
the core business of the renewable companies he had quietly acquired—
at prices twice the global average at the time.

At that very moment, Japan’s major manufacturers across all sectors, led by electrical companies admired worldwide,
were condemned to pay electricity costs far higher than those in South Korea.

In other words, once again, Japan was pushed into a race where Korea runs 100 meters while Japan must run 150.

The hardship continues.
Restructuring—once again—means the creation of a new low-income class.

To be continued.