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Business deals

Tepco, Hitachi and Toshiba in talks for 4-way nuclear alliance

Decommissioning and safety costs loom large for the Japanese power companies

A worker looks at tanks of contaminated water from Tokyo Electric Power Co. Holdings' Fukushima Daiichi nuclear plant. The future of Japan's nuclear sector remains unclear, with many reactors still offline following the March 2011 meltdown.   © Reuters

TOKYO -- Tokyo Electric Power Co. Holdings, HitachiToshiba and Chubu Electric Power have entered into negotiations to form a four-way alliance on nuclear power operations that would include jointly decommissioning obsolete reactors.

The utilities and engineering companies are considering the launch of a joint engineering company that handles reactor maintenance with the possibility of combining all nuclear operations under one roof in the future. Further details are being hashed out.

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