Tepco shareholders agree to nationalisation

A protester outside the shareholders' meeting on 27 June There were protests outside the meeting and anti-nuclear motions debated inside it

Related Stories

Shareholders of Tokyo Electric Power Company (Tepco), which operates the crippled Fukushima nuclear power plant, have approved the nationalisation of the company.

The government will put 1tn yen ($12.6bn; £8bn) into the utility company to prevent its collapse.

It brings its support for Tepco to at least 3.5tn yen since last year's earthquake caused a reactor meltdown.

Protesters outside the meeting demanded the company abandon nuclear power.

There was hot debate at the shareholders' meeting as to whether Tepco should restart its nuclear reactors, although a motion to scrap all seven reactors at Tepco's Kashiwazaki-Kariwa plant, which is the world's biggest nuclear facility, was defeated.

Shareholders also questioned Tepco's proposal to raise household electricity prices by 10% because of rising costs.

It needs to buy more oil and liquefied natural gas while all of its nuclear reactors remain shut.

The BBC's Mariko Oi in Tokyo said: "In a country where public demonstrations used to be few and far between, anti-nuclear protests have become a usual sight.

"Activists were outside the event today and earlier this month, tens of thousands of them protested against the government's decision to restart two nuclear reactors at the Ohi power plant in Fukui Prefecture."

Prime Minister Yoshihiko Noda said it was crucial to ensure that Japan's economy would not be affected by the lack of electricity, but public opinion remains split and anti-nuclear activists made their voice heard at Wednesday's meeting.

Power firms in Japan are facing public protests over their plans to restart their nuclear reactors, following last year's devastating earthquake and tsunami

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Painting of the German surrender by Charles PearsMonstrous assembly

    Why did 270 warships gather peacefully in one place?


  • Emily Thornberry and her tweetOut flagged

    How exactly did the Thornberry tweet lead to her resignation?


  • Clanger and BagpussSaggy cloth cat

    What's the future for Children's TV favourite Bagpuss?


  • DerainArt of gaming

    The Tate Gallery goes 3D with Minecraft


  • Neo nazi marchers7 days quiz

    What trick did a German town play on neo-Nazi marchers?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.