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-17008569
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Tepco to get $9bn extra aid to help pay compensation | Tepco to get $9bn extra aid to help pay compensation |
(40 minutes later) | |
Tokyo Electric Power Company (Tepco), owner of the crippled Fukushima Daiichi nuclear plant, is to be given another $9bn (£5.6bn) by Japan's government. | Tokyo Electric Power Company (Tepco), owner of the crippled Fukushima Daiichi nuclear plant, is to be given another $9bn (£5.6bn) by Japan's government. |
The additional aid is aimed at helping the firm pay compensation to victims of radiation leaks at the plant. | The additional aid is aimed at helping the firm pay compensation to victims of radiation leaks at the plant. |
The leaks, which happened after the earthquake and tsunami in March last year, resulted in some 80,000 people being evacuated. | |
Tepco is facing up to $100bn in compensation claims. | Tepco is facing up to $100bn in compensation claims. |
'Sufficient voting rights' | |
The company, which provides electricity to some of Japan's most economically important areas, has been going through a tough time since the disaster. | |
It reported a net loss of 627bn yen ($8bn; £5bn) for the six months from April to September, due to the costs of dealing with the crisis at the Fukushima plant. | |
At the same time, it has seen 15 of its 17 nuclear plants shut down, forcing it to generate electricity using traditional thermal power stations, resulting in increased costs. | |
Last month the firm increased electricity prices for corporate clients for the first time in more than 30 years, saying such a move was crucial to its survival. | |
All these factors have led to speculation that the government will inject public funds into the company and take over a substantial stake. | |
However Trade Minister Yukio Edano said any such move will only be possible if the government is given a greater say in the day-to-day running of the firm. | |
"If Tepco submits a business plan seeking a capital injection (from the government) without sufficient voting rights relative to the size of injection, I have absolutely no plans to approve it as long as I am in this position," Mr Edano said. |
Previous version
1
Next version