Tokyo Electric Power Co. will liquidate its public relations affiliate around the end of July to secure funds for its massive compensation payments over the crisis at the Fukushima No. 1 power plant, sources said Tuesday.
The utility will sell all properties of Tepco Public Relations Co., which was established in 1984. All 28 of its facilities have been shut down since the March 11 earthquake, the sources said.
Tepco plans to withdraw from its noncore businesses and aims to raise more than ¥600 billion by selling assets such as securities holdings, idle real estate and leisure facilities.
Damages payments for people and companies affected by the nuclear accident are estimated to total trillions of yen.