Japan firms invest 10 bil. yen in floating nuclear plant project

About a dozen Japanese companies, including major shipbuilders, have invested a total of about 10 billion yen ($72 million) in a British start-up developing floating offshore nuclear power plants, sources familiar with the matter said Wednesday.

Onomichi Dockyard Co. and Imabari Shipbuilding Co. are among the companies that provided funds to Core Power Ltd., which has been working on the project along with TerraPower LLC, a U.S. venture founded by Microsoft Corp. founder Bill Gates, the sources said.

It is believed that building nuclear plants offshore will make them less vulnerable to earthqu...