Tokyo Electric Power Co., which faces damages of at least ¥4.5 trillion for the Fukushima nuclear disaster, may be consigned to a future as a "zombie company" requiring constant government funding.
The estimate is contained in a report from a panel reviewing Tepco's finances, the daily Yomiuri said Friday. The government is trying to avert the bankruptcy of a utility that supplies power to 29 million customers as it pays for the worst nuclear disaster in 25 years.
"Significant financial resources for compensation can be extracted if they liquidate Tepco," said Yoshimi Watanabe, head of Your Party. "The government isn't doing this. It's simply writing a check for the compensation body, to be funded by higher electricity bills and taxes. Tepco will ultimately be a zombie company."