The optimum conceptual design of tokamak with normal conductor coils was studied for minimizing the cost for producing a given neutron flux by using a system code, PEC. It is assumed that the fusion neutrons are used for burning transuranics from the fission reactor spent fuel in the blanket and a fraction of the generated electric power is circulated to opearate the tokamak with moderate plasma fusion gain. The plasma performance was assumed to be moderate ones; in the aspect ratio and . The circulating power is an important factor affecting the cost. Though decreasing the aspect ratio is useful to raise the plasma beta and decrease the toroidal field, the maximum field in the coil starts to rise in the very low aspect ratio range and then the circulating power increases with decrease in the plasma aspect ratio below , while the construction cost increases with . As a result, the cost per neutron has its minimum around , namely, between ST and the conventional tokamak. The average circulating power fraction is expected to be ~51%.