National News Tepco to accept aid, with strings attached

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Tokyo Electric Power Co. (Tepco) decided May 11 to accept the government's conditions for helping it compensate victims of the Fukushima No. 1 nuclear power plant crisis.

Tepco is expected to face trillions of yen in compensation demands.

The government's conditions for aid include maximum cost-cutting efforts, not capping compensation payments in advance, and allowing an investigation into its management to be conducted by a third-party panel set up by the government.

The government presented the conditions on the evening of May 10 after Tepco President Masataka Shimizu earlier in the day asked for help in making the enormous compensation payments for the radiation-related problems triggered by the March 11 megaquake and tsunami.

To raise the funds, Tepco is planning to sell more than ¥500 billion worth of assets, sources said.

Tepco is also considering freezing dividend payments on its common shares for five to 10 years to free up even more money. (Kyodo News)

東電、政府の賠償支援条件受け入れへ

東京電力は5月11日、福島第一原発事故の賠償策で政府が支援の前提として示した条件を受け入れると海江田経済産業相に回答した。

Shukan ST: May 20, 2011

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