A district court in Japan has rejected a request by shareholders of Hokuriku Electric Power Co. to halt the planned restart of two reactors at the Shika nuclear power plant in Ishikawa Prefecture. The shareholders argued that restarting the reactors, which have been offline since 2011, could lead to irreparable damage to the operator, especially after risks and shortcomings in evacuation planning were exposed following the 2024 earthquake in the Noto Peninsula [1]. The trial focused on whether Hokuriku Electric's decision violated its duty of care under Japan's Companies Act.
Presiding judge Toshichika Yaguchi stated that a violation would not normally arise if the operator decided to restart the reactors after experts examined safety [1]. Hokuriku Electric maintained that it has complied with the Nuclear Regulation Authority's review, which incorporated findings from the earthquake, and asserted that no safety issues have been identified. The company described the restart as a rational decision aligned with national policy and supported by many shareholders [1].
The No. 2 unit at the Shika plant is currently under review for restart, while both reactors have remained offline since 2011 [1]. Historically, the Kanazawa District Court ruled in favor of residents seeking to halt the plant's operations in 2006, but that decision was later overturned [1].
No specific market reactions or analyst opinions were mentioned in the article. The court's decision may have implications for Hokuriku Electric's operational plans and shareholder relations, but concrete financial or market data were not provided [1].
CONCLUSION
The Toyama District Court's rejection of shareholders' bid to halt the Shika reactors' restart allows Hokuriku Electric Power Co. to proceed with its plans, pending regulatory review. While the decision supports the company's alignment with national policy and expert safety assessments, no explicit market reactions or financial impacts were discussed. The ruling may influence future shareholder actions and nuclear policy debates in Japan.