Sunday marked the 10th anniversary since Tokyo Electric Power Company Holdings Inc. was effectively nationalized after the devastating triple-meltdown nuclear crisis at the Fukushima No. 1 power plant.
Tepco has struggled to rebuild its business while attempting to restore its reputation and compensate for its role in the disaster that immediately followed the Great East Japan Earthquake of March 11, 2011. However, more competition, a string of scandals and other problems have prevented the restart of its nuclear power plants — a key to rebuilding the company — resulting in sluggish performance.
Recently, the soaring cost of oil due to the Russia-Ukraine war has taken its toll, further exacerbating uncertainties in its restructuring roadmap.