Japan’s Mitsubishi Heavy Industries said yesterday it would defend itself against a US$4 billion damages claim in the US over a shuttered nuclear power plant amid allegations of faulty equipment.
Southern California Edison (SCE) and its subsidiary Edison Material Supply is asking for arbitration over the claim against Mitsubishi and its wholly-owned US subsidiary Mitsubishi Nuclear Energy System.
The original dispute, first raised in July, says SCE had to close San Onofre Nuclear Generating Station because replacement steam generators supplied by Mitsubishi were defective.
SCE owns 78 percent of the power plant.
The arbitration, intended to avoid a court battle, is being sought because the two sides have so far failed to reach agreement.
“Through the arbitration process, Mitsubishi will aggressively defend itself by accurately representing the facts involved and the applicable legal principles,” the company said in a statement released in Tokyo.
“At the same time, Mitsubishi will take actions for its counterclaims because it has been damaged by inappropriate actions by SCE” regarding the restart of the power station and the repairs to the steam generators, it said.
Mitsubishi says its contract with the US companies limits liability to a maximum US$137 million and excludes consequential damages such as the cost of replacement power.
Mitsubishi said the dispute was presently having no impact on its earnings prospects.
The co owners of the power station — San Diego Gas & Electric and City of Riverside — have filed lawsuits against Mitsubishi alleging breach of warranty obligations.
These lawsuits are now pending at a US District Court in southern California.
Mitsubishi said it wants all the disputes resolved by arbitration and has filed motions with the court requesting a stay of the suits.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —