Three reactors at the Fukushima Daiichi nuclear power complex were damaged in the recent earthquake and reportedly have leaked radiation.
“There’s not a tremendous amount of positive information coming out of Japan right now,” said Daniel Holland, an analyst with Morningstar. “The nuclear industry, in general, could be set back.”
Shares of GE (GE 19.89, -0.47, -2.31%) were down 3.4% at last check at $19.67, after reaching an intraday low of $19.45. A component of the Dow Jones Industrial Average (DJIA 11,987, -57.75, -0.48%), the stock was the day’s worst performer for the index.
Reactors at the Fukushima Daiichi power plant predate the alliance. Of the three damaged reactors, based on news reports, only two appear to have been built by GE. The third was built by Toshiba Corp.(JP:6502 411.00, -80.00, -16.29%) (TOSBF 4.89, -0.98, -16.70%).
The other three reactors at the site, which were not in operation at the time of the earthquake, were built by GE, Toshiba and Hitachi, said GE spokesperson Mike Tetuan.
GE Hitachi does not operate nuclear power plants in Japan and are not involved in any of the repairs at Fukushima Daiichi, Tetuan said.
etuan couldn’t say how many GE-designed nuclear reactors have been sold in Japan. It was also not known if current construction of two other reactors for the country by GE Hitachi had been halted.
Revenue from the alliance was not public, Tetuan said.