JSW to Double Production Capacity for Nuclear Power Components by FY2028

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The Japan Steel Works (JSW) announced on 13 July that it plans to double its production capacity for components used in nuclear power plants by the fiscal year ending March 2029, compared with the level in FY2025. Sales in its Material and Engineering Products Business, which includes nuclear power components, are projected to increase from JPY 39.7 billion in FY2025 to JPY 68.0 billion in FY2028.

The company recently revised the medium-term management plan it unveiled in June 2024, raising its targets for both net sales and operating profit. It also announced updated business strategies for each of its business segments.

At its Muroran Plant in Hokkaido, JSW manufactures large forged components for reactor pressure vessels as well as turbine rotor shafts for nuclear power plants. Anticipating growing demand for nuclear energy in Japan and overseas—driven in part by the rapid expansion of artificial intelligence and the resulting increase in electricity demand—the company plans to strengthen its production system by expanding its workforce while further promoting labour-saving technologies and factory automation.

JSW also cited the International Energy Agency’s (IEA) latest World Energy Outlook 2025 (WEO 2025), which revised upward its projection for global nuclear generating capacity in 2050 by 26% compared with WEO 2023, as one of the factors supporting its positive outlook for future demand.

Operating profit in the Material and Engineering Products Business is expected to increase from JPY 8.8 billion in FY2025 to JPY 16.0 billion in FY2028.