Kansai Electric | Growing Support for Nuclear Restarts; Bullish

Kansai Electric reported record Q1 net income of Y193 billion, up from a loss of Y11 billion a year ago, on lower fuel prices (LNG/coal). The company also benefited from a higher utilization of its nuclear plants (now 78% vs 29% a year ago). No change to full year net income projection of Y305 billion, but will likely be raised assuming no change in fuel costs.