This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13938774
The article has changed 4 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Tepco faces shareholder wrath following nuclear crisis | Tepco faces shareholder wrath following nuclear crisis |
(about 1 hour later) | |
Japan's Tokyo Electric Power Company (Tepco) faced the wrath of angry shareholders at its first annual meeting since the 11 March earthquake and tsunami. | Japan's Tokyo Electric Power Company (Tepco) faced the wrath of angry shareholders at its first annual meeting since the 11 March earthquake and tsunami. |
Shareholders demanded that the company abandon nuclear energy in the wake of the Fukushima Daiichi nuclear crisis. | |
Tepco may have to pay compensation of almost $100bn (£63bn) following radiation leaks at its nuclear plant. | |
Tepco shares have plunged since the quake and tsunami damaged the facility. | Tepco shares have plunged since the quake and tsunami damaged the facility. |
Shareholders also criticised management for the way they handled the crisis. | |
However, the company assured investors that it was confident of finding a solution to the crisis soon. | |
"We're working to get out of this crisis as quickly as possible," said Tsunehisa Katsumata, chairman of Tepco. | |
Nuclear concerns | |
The biggest debate among shareholders revolved around the future of nuclear energy and what the company's stand on the issue should be. | |
Many were of the opinion that Tepco should abandon nuclear energy. | |
They said that it did not have a feasible future, not least because of the ongoing Fukushima nuclear crisis. | |
"They're going to have to give up nuclear power in the next few years," said a shareholder from Nagano. | |
"Construction of new plants is going to be impossible," he added. | |
However, analysts said that the current power shortage in Japan was proof that the country needed nuclear energy in order to meet its demand for electricity. | |
"The question is, can Japan do without nuclear power?" said Mitsushige Akino, of Ichiyoshi Investment Management Company. | |
"How much are the Japanese people willing to sacrifice in terms of standard of living?" he added. | |
"The sentiment is understandable, but the reality is that this is difficult without considerable sacrifice to economic growth and activity." |