TEPCO Vows Reforms after Scandals in New Biz Plan

Economy

Tokyo, July 21 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. <9501> promised to carry out drastic reforms to strengthen its corporate governance in a new special business plan disclosed Wednesday.

TEPCO filed for government approval of the plan, which puts priority on the governance reforms after security and other problems were found at its Kashiwazaki-Kariwa nuclear plant in Niigata Prefecture, central Japan.

The special plan also features up to 3 trillion yen in fresh investments over the decade through fiscal 2030 to develop renewable energy sources toward the goal of achieving decarbonization.

"We'll remake TEPCO into a company that can meet the expectations of society," Chairman Yoshimitsu Kobayashi told industry minister Hiroshi Kajiyama after submitting the special plan to the government.

TEPCO will work actively to fight negative rumors over a plan to release into the ocean treated radioactive water from its meltdown-stricken Fukushima No. 1 power plant, which was adopted by the government in April this year, according to the plan.

[Copyright The Jiji Press, Ltd.]

Jiji Press