In our 38th Medium Term Forecast for the Japanese Economy released in early December , we considered and compared the cost of cleaning up the accident at the Fukushima Daiichi nuclear power station and continuing with nuclear power, against the cost of abandoning nuclear power by FY2050 (April, 2050-March, 2051), relying on solar and wind power to the extent that power transmission network upgrades are not required. We concluded that there was no distinct difference between the two. Taking the above forecast a step further, the present report estimates the cost of abandoning nuclear power by FY2050, relying on further energy conservation efforts as well as more widespread use of new forms of energy, including solar, wind, thermal, biomass and low head hydropower. We find that making efforts in both adopting new forms of energy and energy saving would likely be cheaper and more economically advantageous than continuing with nuclear power.