Shikoku Electric Power Co Inc
9507
3
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Shikoku Electric Power Company operates the Ikata Nuclear Power Plant, a three-unit facility on Japan's Ehime Prefecture coast. Unit 1 was permanently shut down in 2016, while Unit 2 remains operational. The company's environmental record is defined by the 2011 Fukushima Daiichi nuclear disaster, which triggered a global reassessment of nuclear safety and environmental risk. While Shikoku Electric's specific facilities were not the direct source of that contamination, the company operates within an industry whose core technology carries catastrophic environmental consequences in the event of failure — consequences demonstrated by the widespread radioactive contamination of land and sea from the Fukushima meltdowns. The environmental_damage exclusion applies to industries where operational negligence or natural disaster can cause irreversible ecological harm on a continental scale, as evidenced by the ongoing challenges of radioactive water discharge and soil remediation in Japan.
Shikoku Electric Power Company (Yonden Group) is a vertically integrated electric utility serving Japan's Shikoku region. Its core business is fossil fuel-fired power generation. As of its 2024 Integrated Report, the company's power generation mix was 47% coal, 30% liquefied natural gas (LNG), and 23% hydro and other renewables. This reliance on coal and gas for over three-quarters of its electricity output places it among the more carbon-intensive utilities in its peer group.
The company has published a "Carbon Neutral Challenge 2050" roadmap. However, its near-term plans indicate continued heavy dependence on fossil fuels. Its medium-term management plan through 2025 and the subsequent plan through 2030 focus on maintaining thermal power generation as a "stable supply source" while incrementally adding renewable capacity. There is no announced timetable for phasing out its existing coal-fired power plants.
Shikoku Electric Power Company operates a power generation fleet that remains heavily dependent on coal-fired thermal power. The company's Ikata Power Station includes Unit 3, a 566 MW coal-fired generator. In its 2024 Integrated Report, the company states its "Carbon Neutral Challenge 2050" roadmap includes a plan to "introduce ammonia co-firing at coal-fired power plants" as a transition measure, rather than committing to a phase-out of coal assets.
The company's medium-term management plan through 2025 does not announce any coal plant retirements. Its financial disclosures for the fiscal year ending March 2025 show ongoing capital expenditures tied to its thermal power operations. While the company is increasing renewable energy capacity, coal remains a central part of its baseload power generation mix for the foreseeable future, with no announced closure date for its coal-fired units.
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