Earthquake increases risk perceptions on Japanese corporates

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The damage inflicted by Friday's earthquake in Japan and the ensuing concern surrounding the safety of the Fukushima nuclear power plant has led to a spike in credit default swap (CDS) spreads for a number of corporates.

Spreads on the Tokyo Electric Company, which runs the stricken Fukushima plant, have increased from 40 basis points on the day of the earthquake to 298bp today, according to data from financial information provider Markit. In the same period, other nuclear power providers were a

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