Tokyo Electric Power Co. said Tuesday it has received ¥1 trillion in public funds and is under effective government control amid its financial plight stemming from the Fukushima nuclear disaster.
The capital injection by a government-backed bailout fund is expected to help the top utility put its business back on track without going bankrupt, while giving the government more than 50 percent of Tepco's voting rights and the ability to intervene in management.
"We feel sorry and take very seriously that the public was asked to bear a further burden," Tepco President Hirose Naomi said in a statement, adding the utility will continue to fulfill its three key responsibilities — compensating the people and businesses affected by the meltdowns at the Fukushima No. 1 plant, scrapping the crippled reactors and supplying electricity in a stable manner.