The Tokyo Metropolitan Government flexed its muscles Friday as the top shareholder in besieged Tokyo Electric Power Co. by demanding that Tepco carry out extensive reforms, including slashing operating costs and making its management transparent.
Tokyo Vice Gov. Naoki Inose showed reporters a five-point list of demands the metro government plans to submit to Tepco's regular shareholder meeting in June. But whether the demands are adopted remains an open question.
The metro government became the utility's top shareholder at the end of last month after two insurance companies sold their Tepco shares, which nose-dived when the triple-meltdown crisis started at the firm's Fukushima No. 1 nuclear plant in March 2011.