What company in their right mind would want to hook up with a zombie company so they could leech 21.5 trillion yen from them?
Tokyo, March 22 (Jiji Press)–Tokyo Electric Power Company Holdings Inc. on Wednesday released an outline of its new rehabilitation plan focusing on joint ventures with other companies, to find a way out of the aftermath of the Fukushima nuclear crisis in March 2011.
But with other power companies cautious about industry realignment and business integration, TEPCO is expected to continue to face difficulties under the new plan.
TEPCO’s current rehabilitation plan, adopted in January 2014, has reached a dead end, with no prospects for a restart of its Kashiwazaki-Kariwa nuclear power plant in Niigata Prefecture, which the company viewed as a key step for improving profitability.
TEPCO needs to secure as much as 21.5 trillion yen for its response to the triple meltdown at its Fukushima No. 1 nuclear power station, including compensation for affected people and businesses and work to decommission the disaster-stricken reactors at the plant.
In the circumstances, the government plans to keep the company effectively under state control for the time being. Its involvement with TEPCO will be reviewed in the fiscal year that begins in April 2019.