Revision of TEPCO Business Plan Postponed

Economy

Tokyo, June 2 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. <9501> and the Japanese government have decided to postpone the revision of the power supplier’s business plan in the wake of the novel coronavirus outbreak, it was learned Tuesday.

The decision came as TEPCO finds it difficult to predict its earnings due to rising uncertainties amid the virus crisis, sources said.

Initially, TEPCO and the government planned to announce the revised plan before a general meeting of TEPCO shareholders on June 25. It will take several months to assess the situation, a TEPCO official said.

The business plan is for securing funds to cover costs for decommissioning the firm’s Fukushima No. 1 nuclear power plant, which was heavily damaged in the March 2011 earthquake and tsunami, and for paying compensation over the accident at the disaster-crippled facility in Fukushima Prefecture, northeastern Japan.

TEPCO and the government first drew up the plan in November 2011 and have been revising it every two or three years since 2012.

[Copyright The Jiji Press, Ltd.]

Jiji Press