Stock Themes] Details of Fusion Power and Related Stocks (U.S. & Japan Stocks)

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This is only a record of my personal analysis and the contents may contain errors or information that differs from the actual situation. Please understand in advance when viewing this site.

Introduction.

Fusion power generation is considered one of the most promising solutions to the energy problems of the 21st century and has been called "the ultimate clean energy.

If this technology is commercialized,Nearly unlimited energy supply in a sustainable and environmentally friendly mannerwill be.

However, there are many scientific, technical, and even economic challenges to its realization.

Meanwhile, an increasing number of companies and research institutions are betting on the potential of fusion power generation, and with it, investment opportunities.

The output will be a survey of fusion-related stocks, ranging from the scientific fundamentals of fusion power generation to U.S. and Japanese stocks related to the development of nuclear fusion.

What is Fusion Power?

Fusion power generation is a method of generating electricity by combining light atomic nuclei in a high-temperature, high-pressure environment to produce large amounts of energy.

This process is the same energy generation mechanism that takes place in the sun.

Its features are as follows

• The fuel required for nuclear fusion can be obtained from seawater,Nearly infinite energy sourceIt is considered to be a
• Fusion emits no carbon dioxide (CO2) and has a very small impact on climate change.Environmentally friendlyThe following is a list of the most common problems with the "C" in the "C" column.
• Fusion is relatively easy to control, and the risk of a meltdown (runaway) like fission (current nuclear power generation) is infinitely low.Highly safeIt is considered to be a
• Fusion has a very high energy density,Large amounts of energy can be generated from small amounts of fuelThe following is a list of the most common problems with the "C" in the "C" column.

However, fusion power generation is currently being researched in cooperation with a number of countries, and efforts toward commercialization are underway.

What is a simpler way to explain nuclear fusion?

Brief description,Nuclear fusion releases "the energy that is produced when lighter atoms stick together to form slightly heavier atoms," and attempts to harness that energy to generate electricity.The following is a list of the most common problems with the "C" in the "C" column.

Specifically, dutrium (deuterium) and tritium, isotopes of hydrogen, are commonly used in nuclear fusion.

When these nuclei combine, they produce a nucleus of another element, helium, and a particle called a neutron.

The energy released during this coalescence process is used as energy for fusion.

The sun also shines on the principle of nuclear fusion; at the center of the sun, hydrogen atoms coalesce to form helium, and the energy released in the process is radiated as sunlight.

Like this,Nuclear fusion is a naturally occurring phenomenon, and the artificial use of its energy to generate clean poweris expected to be the first of its kind in the world.

What is the difference between fusion and fission?

Fusion and fission are both reactions related to atomic nuclei, but their mechanisms and results are very different.

The main differences are as follows

Nuclear Fusion

• Lighter nuclei (usually hydrogen isotopes) combine at high temperatures and pressures to form heavier nuclei (usually helium).
• A large amount of energy is released in the process of nucleus coalescence.
• Most fusion reactions produce very little or no radioactive waste.
• The likelihood of a large-scale explosion or radiation leakage in the event of loss of control is low.
• Commercialization has not yet been achieved and many technical challenges remain.

Nuclear Fission

• A heavier nucleus (usually uranium or plutonium) is split by a neutron collision to produce a lighter nucleus.
• A large amount of energy is released in the process of splitting the nucleus.
• Fission reactions often produce large amounts of radioactive waste.
• If control is lost, a major disaster like Chernobyl or Fukushima Daiichi could occur.
• It is already commercialized and used as part of the electricity supply in many countries.

Source:Encyclopedia of Energy ([9-4-05] Fusion and Fission)

Above,Fusion and fission are very different in terms of energy generation mechanisms, safety, and environmental impactThe following is a list of the most common problems with the "C" in the "C" column.

Fusion is theoretically a cleaner and safer energy source, and there are still many challenges to its practical application, but fission is already in practical use, and there are issues of radioactive waste disposal and safety.

Are nuclear fusion and nuclear power plants different things?

As indicated earlier,Fusion and nuclear power (usually referred to as fission) have fundamentally different mechanisms for generating energy.

A "nuclear power plant" splits heavy nuclei, usually uranium or plutonium, by neutron collisions, releasing large amounts of energy in the process.

The main issues are the disposal of the radioactive waste produced by this reaction and safety in the event of loss of control.

On the other hand, "nuclear fusion" is a process in which lighter nuclei, mainly isotopes of hydrogen, combine under high temperature and pressure to produce heavier nuclei.

This reaction also releases a large amount of energy, but has the advantage of producing very little radioactive waste. It is also considered unlikely that a large-scale explosion or radioactive leak would occur in the event of a loss of control.

Due to the image of the word nuclear, we tend to think of nuclear power plants.Fusion and nuclear power plants are quite different.In a sense, it is the exact opposite of how it works.

What is the principle of fusion power generation? What is its mechanism?

Although the principles and mechanisms of fusion power are quite complex, the basic concepts are relatively simple.

The main points are described below.

Principle of Fusion Power Generation

• Very high temperatures (millions of degrees or more) and high pressures are required to cause nuclear fusion. This is a requirement for light atoms (e.g., hydrogen) to coalesce.
• When light atoms combine (fuse) at this high temperature and pressure, a large amount of energy is released, and this energy is used to produce electricity.

Mechanism of Fusion Power Generation

• Generate plasma:.At high temperatures, the gas enters a state called plasma. This is the state in which the electrons and nuclei are separated, or the "field" of the fusion reaction.
• Controlled by magnetic field:.In order to maintain high temperature and pressure conditions, it is necessary to control the plasma using a strong magnetic field. This is called "Magnetic Confinement.
• In some cases, lasers are used:. Another method is to use a laser to momentarily energize the fuel (usually small pellets) to create high temperatures and pressures. This is called Inertial Confinement.
• Convert to electricity:. The energy produced (mainly heat) is used to turn a turbine and produce electricity.
• Need to process by-products:The byproducts of fusion reactions (mainly helium) are not as radioactive for long periods of time as those of fission reactions, but they still need to be properly disposed of.

In brief,Nuclear fusion is a method of "combining light atoms at very high temperatures and pressures and converting their energy into electricity.It is.

If this technology works, it could create nearly unlimited amounts of energy, yet be environmentally friendly.

What are the types and characteristics of magnetic confinement methods for fusion reactors?

There are several types of magnetic confinement methods that confine ultra-high temperature magnetism (plasma) for the realization of fusion reactors.

Below are the methods and features.

Tokamak type

This method uses a magnetic field to confine plasma in a torus (doughnut-shaped) vessel, and has the advantage of achieving high plasma density and temperature.
However, the mechanism is complex and has the disadvantage of requiring huge facilities with high construction and operation costs.

helical

This method uses a helical magnetic field to confine the plasma, and has the advantages of high ground field stability and relative ease of miniaturization.
As a disadvantage, plasma density and temperature tend to be lower than those of the tokamak type, and research is less advanced than in the tokamak type.

Laser Type

This method uses laser beams to induce nuclear fusion by applying high temperature and pressure to small fuel pellets, and has the advantage that it does not require magnetic field control and can be realized in a small reactor.
The disadvantages are that it requires a high energy laser and the fuel supply and laser accuracy must be very high.

In summary,

• Tokamak type: can achieve high plasma conditions, but at a high cost.
• Helical type: Stable magnetic field, but inferior plasma conditions.
• Laser type: No magnetic field control is required and miniaturization is possible, but high-precision control is necessary.

Methods of producing fusion reactions (three main methods): Source: Ministry of Education, Culture, Sports, Science and Technology, "Fusion Research"

Each of these types is chosen according to the application and the progress of the research.

What are the advantages of fusion power generation?

Sustainable energy fuel supply available

The primary fuels used in fusion are deuterium and tritium, with deuterium in particularNearly unlimited energy supply because it can be extracted from seawater as wellThe first is the "A" in the "A" column.

Environmentally friendly with no greenhouse gas emissions

Because nuclear fusion does not require a combustion process,No emission of carbon dioxide (CO2) or other greenhouse gases.

The byproduct of fusion power generation is primarily helium, which is harmless and does not require long-term radioactive waste management.

Can operate 24 hours a day

Compared to wind power, solar power, etc,In principle, the system can continue to generate electricity 24 hours a day, regardless of the season or time of day.The following is a list of the most common problems with the "C" in the "C" column.

High level of safety is expected

Since fusion reactions can only be sustained in a high-temperature, high-pressure environment, if any problems occur, the reaction will spontaneously stop, eliminating the risk of a meltdown as in nuclear power generation by fission.

High energy output is possible

Fusion has a very high energy density,Generates large amounts of energy from small amounts of fuelThe system is capable of providing a stable energy supply and can respond to the need for large amounts of electricity.

Less regional dependence on fuel

Because deuterium can also be obtained from seawater,No dependence on a specific region or country.Energy supply is available in a wide range of areas.

What are the disadvantages of fusion power generation?

High initial costs expected

Very high costs for R&D and construction of facilities.

International coordination is needed.

Large-scale R&D requires the cooperation of many countries.

By-products need to be processed

Some by-products have short-term radioactivity and need to be properly treated.

Considering these advantages and disadvantages, fusion power is a very promising energy source.

What is the market size of fusion power generation?

• The global fusion market was approximately US$296.4 billion in 2022 and is projected to grow to approximately US$313.56 billion by 2023.
• The growth rate (CAGR) is 5.8%. It is also projected to reach approximately US$395.14 billion by 2027.
• This market size also includes the value of goods and services related to energy generation.
• In 2021, six large nuclear reactors will begin operating in the United States, and two more will be operational by 2030. It is estimated that US$3.2 billion in government funding will be available for this.
• In June 2021, Zap Energy developed a new prototype that achieved a state where energy output is greater than energy consumed (Q=1).

From the above information,The market for fusion power generation is expanding, and many companies and countries are focusing on research and development.

Why is fusion technology rapidly developing and commercialization in sight?

• Over the years, research has advanced the technology for controlling fusion and achieved breakthroughs in many issues. In particular, these include plasma stabilization, control of high-temperature and high-pressure conditions, and advances in materials science.
• International projects such as ITER (International Thermonuclear Experimental Reactor) are underway, and many countries are providing funding and technology to accelerate fusion research.
• In recent years, funding from government and the private sector has increased. In particular, increased investment in clean energy has led to more funding for fusion research.
• Advances in AI and high-performance computing have made fusion simulation and data analysis more efficient.
• The increasing demand for clean energy due to global warming and the depletion of fossil fuels is driving the move toward the commercialization of fusion.

Above,Technological advances, international cooperation, increased funding, advances in AI and computing technology, and environmental considerations are all reasons why commercialization of fusion is becoming more visible.The following is a list of the most common problems with the "C" in the "C" column.

What well-known investors, companies and organizations are investing in fusion?

There are several well-known investors, companies and organizations investing in fusion technology.

Here are some of the major ones

Famous Investors

Bill Gates

He is the founder of Microsoft and has invested in a nuclear energy company called TerraPower. This company is interested in fusion as well as fission.

Jeff Bezos

 He is the founder of Amazon and an investor in a Canadian fusion company called General Fusion.

Peter Thiel

 He is a co-founder of PayPal,Palantir Technologies, Inc.Peter Thiel, founder of Helion Energy, Inc. has invested in an American fusion company called Helion Energy.

Sam Altman

Sam Altman, founder of OpenAI, prominent investor, and former president of Y Combinator, has invested $375 million in Helion Energy, a company focused on commercializing fusion energy.

This is the single largest investment Altman has ever made and demonstrates his strong belief in the potential of fusion energy.
Helion Energy is working on a "pulsed non-ignition fusion system" that can bypass the conventional conversion step and directly recover electricity. This could be a major game changer in terms of efficiency and could significantly reduce energy production costs.

Source:. YourStory.com

What are the major companies and projects related to fusion power?

There are a number of major companies and projects related to fusion power generation.

Here are a few notable ones

Major fusion power companies

• TAE Technologies Inc (unlisted):.The U.S.-based company specializes in plasma physics and engineering research and is making progress toward commercialization.
  It has raised significant funds, including an investment from Google.
• Zap Energy Inc (unlisted):.A Seattle-based startup that conducts fusion research using Z-pinch technology.
• First Light Fusion Ltd (unlisted):. A British company developing fusion technology using Inertial Confinement (Inertial Threshold).
• General Fusion (unlisted):.A Canadian company researching a hybrid method of Magnetic Confinement and Inertial Confinement, and has been recognized for its multi-faceted approach. It has received funding from the Canadian government and Jeff Bezos (founder of Amazon).
• Commonwealth Fusion Systems (unlisted):. An American company spun off from MIT, developing tokamak-type fusion reactors using high-temperature superconducting magnets, with strong ties to MIT and significant funding.
• Tokamak Energy Ltd (unlisted):.A British company, it aims to commercialize fusion technology using a small tokamak reactor.
• Helion Energy (unlisted):.An American startup company that aims to provide clean energy using proprietary fusion technology; invested in by Open AI founder Sam Altman.
• Lockheed Martin Corp (LMT). :.An American defense company, a major player in the field, is also focusing on fusion research. In particular, compact fusion reactors are being developed. It's relatively stable because of its diversified business.

Major Fusion Power Projects

• ITER (International Thermonuclear Experimental Reactor):.An international joint research project under construction in France to develop a prototype fusion reactor for commercialization.
• NIF (National Ignition Facility):.A project in the U.S. is conducting inertial-threshold fusion research using lasers.
• SPARC:.A joint project between MIT and Commonwealth Fusion Systems aims to commercialize fusion using a small tokamak reactor.
• DEMO:.This European project, following ITER, plans to design and build a fusion reactor for commercial operation.

These companies and projects are conducting various types of research and development to commercialize fusion power, and depending on their progress, could have a significant impact on the energy industry.

Which Japanese companies are major players in fusion power generation?

In Japan, research and development on fusion power generation is also underway.

Major companies are related to nuclear power and energy.

• 7011：Mitsubishi Heavy Industries, Ltd.
• 6502: Toshiba Corporation
• 6502: Hitachi, Ltd.

The following organizations are among the research institutions

• QST (Quantum Science and Technology Agency):QST (National Institutes for Quantum and Radiological Science and Technology) is a Japanese research institute that operates a tokamak-type experimental device called JT-60SA as part of its fusion research.

Are there investment opportunities in fusion power?

• Fusion is a very promising source of sustainable and clean energy. If successful, it could revolutionize the energy industry.
• Since many start-ups are currently seeking to commercialize fusion technology, early investment in these companies could yield high returns in the future.
• Investments in companies active in fields such as advanced materials science, cooling technology, and magnetic field control technology for nuclear fusion, as well as in related companies such as materials manufacturers, are also promising.

Risks of Investing in Fusion Power

• Since fusion technology has not yet been commercialized, it is possible that the companies that have invested in this technology may not be successful.
• Because the development of fusion technology takes time, short-term returns are not expected.
• Fusion technology is regulated in many countries, and it is possible that a political decision could halt the project.

Investing in fusion power involves risk, but the impact of a successful investment is also very large. It is important to evaluate the risks carefully and choose a method that fits your own investment strategy.

What are the U.S. related issues in nuclear fusion?

Although many U.S. fusion power companies are privately held start-ups and there are not many stocks in which to invest directly, there are seven companies that are funded and that will benefit from the advancement of each fusion technology, according to the Nasdaq's7 Nuclear Fusion Stocks to Buy Before the Next BreakthroughThe article is called.

The seven issues there are as follows.

Chevron (CVX)

While being a major oil and gas company, it also supports the development of fusion technology. In particular, they fund a fusion startup called TAE Technologies.

Alphabet (GOOG, GOOGL)

Google's parent company, and has participated in the financing of TAE Technologies. It is also involved in the development of the Optometrist algorithm, which speeds up plasma modeling for fusion energy technology.

Cenovus Energy (CVE)

A Canadian oil and gas company with a long-term investment in a Canadian fusion energy technology company called General Fusion.

Babcock International (BCKIF)

An international defense company, it also specializes in nuclear engineering services, and in 2009 acquired the UK Atomic Energy Authority, which is involved in the development of fusion power.

SNC-Lavalin (SNCAF)

A Canadian engineering firm involved in the development of nuclear facilities. It also plans to integrate fusion technology once it is commercialized.

Consolidated Water (CWCO)

Although the company specializes in water treatment solutions, it is believed that economically viable seawater desalination will be possible once fusion is commercialized.

Oatly (OTLY)

A Swedish food company offering plant-based food products. As fusion technology advances, the entire plant-based food industry could become more efficient.

Unlisted but noteworthy U.S. fusion startup company

Commonwealth Fusion Systems (CFS)

Commonwealth Fusion Systems (CFS)is a spin-off from the Massachusetts Institute of Technology (MIT) that aims to commercialize fusion energy; founded in 2018, its goal is to develop a commercially viable fusion reactor by 2030 using high-temperature superconducting magnet technology.

The magnets are said to provide stable confinement of the plasma, thereby making the fusion reaction sustainable.

CFS has raised funds from a number of venture capital firms and companies, including Bill Gates' Breakthrough Energy Ventures and Chevron Technology Ventures.

The CFS is working on a fusion project called SPARC. This project is considered the first step toward commercialization and, if successful, could become the next generation clean energy source.

Because CFS requires many components, such as magnet manufacturing and plasma control technology, it works with many suppliers to achieve a unique supply chain.

If fusion energy is commercialized, CFS could be a pioneer. Its success could significantly change the future of clean energy.

CFS's technology and vision are highly regarded by many investors and industries.

Helion Energy

Helion Energyis a Washington, U.S.-based company that develops fusion energy, founded in 2009, with the goal of developing commercially viable fusion energy.

Helion Energy employs its proprietary Magnetic Target Fusion (MTF) technology. This technology combines magnetic fields and lasers to keep the plasma at high temperatures and pressures to induce a fusion reaction.

Helion Energy has raised funds from a number of venture capital firms and companies. These include Peter Thiel's Mithril Capital Management and Y Combinator, as well as Bill Gates' Breakthrough Energy Ventures, Open AI's Sam Altman, current Asana CEO Dustin Moskowitz, and others.

Helion Energy's fusion technology, if successfully commercialized, has the potential to make a significant contribution to sustainable energy supply. In particular, the company's unique technology and successful financing have enhanced its prospects.

Helion Energy sets itself apart from other fusion developers by aiming for more efficient fusion reactions through its proprietary fusion technology.

What are the Japanese stocks related to nuclear fusion?

Japanese fusion-related ventures are in a difficult situation, with less investment than their Western counterparts. However, Japanese materials companies are attracting attention in this field.

Below are Japanese companies and stock codes that are of interest as fusion materials-related stocks.

INPEX [1605].

Inpex, a Japanese oil and gas exploration company, plans to move into fusion technology this year, the Nikkei reports.

Inpex plans to invest in startups in Japan, particularly Kyoto-based Kyoto Fusion Engineering, EX-Fusion in Osaka, and Helical Fusion in Tokyo.

This will be the first time a major Japanese company has invested in a fusion developer, with each company planning to invest anywhere from a few hundred million yen to tens of billions of yen.

Stock Price (1605) Chart (Yahoo! JAPAN Finance)

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Furukawa Electric [5801].

Furukawa Electric is working with Tokamak Energy, a British company, to advance commercial fusion energy.

Furukawa Electric and its group company SuperPower Inc will supply high-temperature superconducting (HTS) wire for the ST80-HTS, a new advanced prototype fusion device for the British fusion venture Tokamak Energy.

This wire is used in HTS magnets, which are needed to confine fuel at temperatures of over 100 million degrees Celsius.

Furukawa Electric and Tokamak Energy are leaders in HTS magnet design and superconducting wire development, respectively.

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Fujikura [5803].

Commonwealth Fusion Systems (CFS) and Fujikura have a close working relationship.

Fujikura is supplying rare-earth-based high-temperature superconducting tapes in high-volume production for the world's first commercially relevant fusion machine being built by CFS in the United States.

The tapes are integral to the high-temperature superconducting (HTS) magnet technology being developed by CFS and are used to generate strong magnetic fields.

Fujikura is expanding its production capacity for this high-temperature superconducting tape, and Brandon Sorbom, CFS's chief scientific officer, said he is very impressed with the performance of Fujikura's HTS tape.

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Toyo Tanso [5310] (Japan)

Toyo Tanso offers products related to fusion energy.

In particular, the company has developed two special graphite materials, CX-2002U (C/C composite) and IG-430U (isotropic graphite).

These materials will contribute to the practical application of fusion energy, and CX-2002U will be the material used in the divertor of fusion reactors, which require special heat removal properties for plasma and ion/electron beams.

IG-430U is primarily used for the first wall of plasma surfaces exposed to low heat loads.

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A privately held company but a fusion start-up company attracting attention in Japan

Kyoto Fusioneering

Kyoto Fusioneeringwas established as a start-up company originating from Kyoto University and uses the world's most advanced technology developed at Kyoto University to realize nuclear fusion, the ultimate energy source.

The company is particularly strong in technology for extracting the heat generated by nuclear fusion reactions.

• Establishment: October 2019
• Head Office: Otemachi Building 5F, 1-6-1 Otemachi, Chiyoda-ku, Tokyo
• Representative: Akira Nagao
• Number of employees: 96 (as of July 1, 2023, including temporary staff, outsourcing, and overseas subsidiaries)
• Major shareholders: INPEX Corporation, SMBC Venture Capital Corporation, MOL PLUS Corporation (MOL CVC), Kyoto University Innovation Capital Co.

EX-Fusion Corporation

EX-Fusion Inc. is an Osaka-based startup company that aims to be the first in Japan to commercialize laser-based fusion energy.

The company is developing a laser-driven fusion reactor with the goal of providing sustainable energy.

EX-Fusion has raised ¥193 million to date, with an additional ¥180 million raised in the latest round of funding.

Helical Fusion Inc.

Helical Fusionis a Tokyo-based start-up company that aims to be the first in Japan to realize fusion energy using the magnetic field threshold method at an early stage.

The company aims to develop a helical fusion reactor and has raised $6 million in a seed round. The company will be established in 2021, and the technology is derived from Japan's National Institute for Fusion Science.

What industries or sectors would benefit from the realization and development of nuclear fusion?

The realization and development of nuclear fusion could benefit many industries, as it is expected to provide an inexpensive supply of energy issues that are fundamental to industry.

Specifically, the following industries are considered

• Energy Industry: EnergyClearly, the most direct beneficiary will be the energy industry, which will benefit from a clean and efficient energy supply.
• ManufacturingThe availability of an inexpensive and stable energy supply could significantly reduce production costs.
• Transportation IndustryEnergy-intensive modes of transportation, such as electric cars and electric airplanes, could become more efficient.
• Water treatment and desalination:.The availability of cheap energy makes energy-intensive processes such as desalination economical.
• Mining:.Cheaper energy would allow for more efficient mining and refining of ore.
• agriculture: Greenhouse cultivation and vertical farming, which require large amounts of energy, can be done efficiently.
• Medical IndustryThe quality of medical care could be improved because of a stable supply of energy needed for advanced medical equipment and research.
• Research & DevelopmentAs energy becomes cheaper, energy-intensive research becomes more readily available.
• Space Industry:.It will provide the energy supply needed for long-term space exploration and life in space.
• Environmental ProtectionThe widespread use of clean energy will significantly reduce the burden on the environment.

What are the future issues and concerns regarding fusion?

Several challenges and concerns still exist with fusion power.

Technical issues related to nuclear fusion

• Extremely high temperatures and pressures are required for nuclear fusion to occur, and the technology for maintaining such an environment is still in its infancy.
• Whether the internal materials of a fusion reactor can withstand high temperatures and pressures is a major issue.
• Technology is needed to maintain a stable magnetic field threshold flux (magnetic flux).

Economic Issues Related to Fusion

• Requires significant funding for research and development and construction.

Social and environmental issues related to nuclear fusion

• Fusion also has the potential to produce a certain amount of radioactive waste.
• The concentration of fusion technology in certain countries could create geopolitical risks related to energy supply.

Fusion Concerns

• Public misconceptions and prejudices about nuclear energy may hinder public acceptance of fusion technology.
• International cooperation and regulation is needed, but if this is not adequately enforced, the project may be delayed.

The above issues and concerns are important points that must be resolved before fusion power can be widely implemented.

summary

Fusion power generation is considered the key to sustainable energy supply in the 21st century, but it is a complex field with many challenges and concerns involved in its realization.

There are multifaceted challenges: technological challenges, economic constraints, and social acceptability.

However, if these challenges can be overcome, fusion is likely to become a true "dream energy" for humanity, and its commercialization could be a great investment opportunity.

Many countries,In particular, companies, including Japanese companies, are focusing on research and development and funding, and the technology of Japanese material manufacturers is deeply involved in the development of fusion.

This is an area of great interest to investors, and if successful, such a move would have a major impact not only on energy issues, but also on the global environment and even the economy.

We will continue to keep a close eye on the progress of fusion technology and the investment opportunities it presents.