TEPCO Submits New Biz Reconstruction Plan

Tokyo, Jan. 11 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. has submitted a new business reconstruction program to the Japanese government, featuring plans to seek partners for its operations related to data centers and decarbonization.

Under the new program, presented Friday, TEPCO aims to improve its profitability as huge costs are expected for compensation to victims of the March 2011 nuclear accident at its tsunami-stricken Fukushima No. 1 power plant and for decommissioning reactors at the plant in northeastern Japan.

The details will be announced after receiving government approval by the end of this month at the earliest.

The new plan includes a policy to promote preparations for the decommissioning of the nuclear plant, such as securing human resources.

TEPCO is also believed to have included a policy to accept external investment in subsidiaries, such as electricity retail and renewable energy units, as part of efforts to improve the deteriorating financial situation and secure funds for new investments.

[Copyright The Jiji Press, Ltd.]