The Fukushima water release plan has been criticized by numerous countries because of its risks.
Among the countries that are against the plan of the Japanese government is China. Chinese netizens have already shown their disappointment by boycotting some Japanese cosmetic brands.
This consumer boycott campaign began in June after Chinese social media platforms claimed that the water discharges from Fukushima are hazardous to health.
China Boycotts Japanese Cosmetics Due To Fukushima Water Release
According to Japan Times' latest report, Chinese internet users are already listing down Japanese cosmetic brands included in the boycott campaign.
One of them is Shiseido, which experienced its largest weekly stock decline in 10 months; the cosmetics firm's shares decreased by 6.8%.
Aside from Shiseido, Kose, and Pola Orbis Holdings also experienced stock declines of 3%.
Wakako Sato, a Mitsubishi UFJ Morgan Stanley Securities analyst, claimed that the ongoing boycott could encourage Chinese consumers to switch away from Japanese cosmetic brands.
She added that weaker local consumption is a major reason for the underperformance of the mentioned Japanese premium cosmetic makers.
About Fukushima Water Release
AP News reported that the Japanese government already showed some hints about its wastewater release plan in Fukushima way back in 2021.
This 2023, sources claimed that the water release plan is expected to start after safety checks by Japanese nuclear regulators.
They added that the Japanese government is just waiting for the final report by IAEA, which is expected to be released in late June.
For those who are not familiar with the Fukushima wastewater release controversy, it is criticized because the water will come from the area of the Fukushima Daiichi nuclear power plant.
This nuclear power plant had a meltdown in 2011, which contaminated the water around it.
Japan said that it will slowly release the water stored in tanks at the nuclear site into the ocean this 2023 until the next 30 years.
However, although Japanese officials clarified that the water is already treated, many people are still against it because the wastewater was affected by the Daiichi nuclear plant meltdown.
You can click this link to learn more about the controversial Fukushima water release plan this 2023.
