Tepco to sell ¥300 billion in securities

Kyodo

Tokyo Electric Power Co. said Thursday it will finish selling around ¥300 billion in securities by the end of March to deal with huge compensation costs stemming from the Fukushima No. 1 nuclear power plant disaster.

With regard to its asset sales, “the area which is showing the biggest progress is securities. I believe we can achieve the sales to a level very close to our goal during this financial year,” Tepco President Toshio Nishizawa told Natural Resources and Energy Agency chief Ichiro Takahara.

In return for receiving financial aid from the state to pay redress to those harmed by the accident, the utility has promised to slash ¥2.65 trillion in costs over 10 years, while selling ¥330.1 billion in securities and ¥247.2 billion in real estate assets, both within three years.