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TEPCO faces angry shareholders at 4-hour meeting

25 Comments
By YURI KAGEYAMA

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25 Comments
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Well, they repeatedly bowed and apologized for the TROUBLES. Case closed.

10 ( +10 / -0 )

Fifteen such motions from shareholders, including those demanding that Tokyo Electric Power Co (TEPCO) start supporting alternative energy and require executives to donate their pay to victims of the March 2011 nuclear disaster, were defeated at an annual shareholders’ meeting.

Wow...TEPCO really has a lot of balls to reject this. It's a completely reasonable request, and to flat out out deny it shows that the TEPCO execs don't give a rat's behind about the victims of the tragedy or Japan's future. If I were a stakeholder or an investor, I would withdraw from anything that has to do with TEPCO and let them fail.

6 ( +6 / -0 )

one excited anti-nuclear shareholder got his microphone turned off and was told to sit down.

Freedom of speech Japan style! You have the right to say anything you like as long as it goes with the 'wa'! If public opinion is so against nuclear power, how did Abe and his pro-nuclear cronies gain office?

7 ( +8 / -0 )

As long as the govt is injecting billion $ of public tax money into the corporation they have no reason to stop. Tepco just received another 6 billion $ this week.

5 ( +6 / -1 )

Fifteen such motions from shareholders, including those demanding that Tokyo Electric Power Co (TEPCO) start supporting alternative energy and require executives to donate their pay to victims of the March 2011 nuclear disaster, were defeated at an annual shareholders’ meeting. ... As its biggest shareholder, the government backs TEPCO and is studying the restart of idled reactors under new safety standards.

This is ridiculous and a clear conflict of interests. The government should NOT use voting shares to oppose the will of taxpaying stockholders. It is an utterly ridiculous situation where the taxpayers' money was used to buy those shares, and those stocks are being used to oppose the taxpaying stockholders' will.

This is the most clear and blatant example of conflict of interest I have ever seen. The government stocks simply cannot be used to vote down motions from people who paid for those stocks.

7 ( +7 / -0 )

@Frungy

By now you should know that the government was never about what the voters want.

5 ( +5 / -0 )

As its biggest shareholder, the government backs TEPCO

Reading this.

“We want to become a dynamic PRIVATE sector company through reforms,” TEPCO President Naomi Hirose told shareholders.

Speaks volume!

3 ( +4 / -1 )

“You all shouldn’t be sitting on a stage but should be at the unemployment office or wandering around some park,”

I would have added "in jail" and put it at the forefront, but hey, at least people are speaking out. Not surprisingly, all the motions to make TEPCO responsible and try to change were defeated. Instead, they want to become a 'successful, dynamic company' while admitting they will depend on the government for a long time to come.

“TEPCO should just shut down,”

Couldn't agree more. But alas, they are still trying to make a profit, restart reactors, and jack up prices while getting handouts. They're not about to give up all that easy money.

5 ( +6 / -1 )

They also said the company would likely be dependent on government aid for a long time

Like a PARASITE !

7 ( +8 / -1 )

@Frungy well thats whats market capitalism is all about, if somebody owns majority share in a company they have the right to control that company, if your a minority shareholder and dont like it you can always sell or dont buy those shares in the first place.

-4 ( +0 / -3 )

We heard you clear & loud Mr President Naomi Hirose : Profit to shareholders, losses to the tax payer !

And the definition of Parasite : An organism that grows, feeds, and is sheltered on or in a different organism while contributing nothing to the survival of its host.

Aside, this company is a joke and I am yet to understand why there is still some individual shareholders, to me if I had a choice I would have changed my provider a long time ago but Japan does not give that choice, but nobody is forced to invest into that corporation, seriously... what are they expecting dealing with the devil ? A piece of the cake ?

2 ( +3 / -1 )

Despite TEPCO's significant dependence on the nuclear plant for its sales, according to its financial statement no board members experience the sector. Why do we think they could make a right decision about whether it should go on the nuclear plants or not?

Although TEPCO seems to be a public firm in terms of shareholders' portion, it is, in fact, just a private firm and too bureaucratic to decide itself! In such a case, the meeting becomes CHA-BAN!

2 ( +2 / -0 )

Ok a quick fix ,,,,temporally pressure inject Foam into the Ground everywhere their are suspected leaks ,will lift and seal all cavity,s caused by leaks.

0 ( +0 / -0 )

“We want to become a dynamic private sector company through reforms,”

you think?

4 ( +4 / -0 )

“You all shouldn’t be sitting on a stage but should be at the unemployment office or wandering around some park,” said one shareholder who identified himself by his surname Fujii.

The best comment ever!

10 ( +10 / -1 )

“We want to become a dynamic private sector company through reforms,”

And yet they turn down the motion requiring them to reform. Go figure.

6 ( +6 / -0 )

"TEPCO officials repeatedly bowed and apologized for the “troubles and worries” the disaster had caused." -- Forget the "troubles and worries" how about an apology for LYING to public! How about an apology for in the slavery you call the clean-up effort! How about paying the good folks doing the actual clean-up WORK a wage that is commensurate with the risks they're taking?! How about an apology for all the radioactive sludge you just dump into the ocean?!!.. For F's sake!

6 ( +7 / -1 )

Hope they skewered those oyajis!

1 ( +1 / -0 )

only 4 hours? I was at two relatively "benign" AGMs this week (not in Japan) and they lasted between 7 and 9 hours.

0 ( +0 / -0 )

“You all shouldn’t be sitting on a stage but should be at the unemployment office or wandering around some park,”

More like sitting in a prison cell eating radiation tainted fish!

2 ( +2 / -0 )

Obviously, TEPCO has no shame, even though they pretend that they do. It's great to fantasize how Abarenbo Shogun would have punished these characters!

1 ( +1 / -0 )

I'm surprised TEPCO didn't hire any Sokaiya to allow them to have a shareholders meeting in under 5 minutes

1 ( +1 / -0 )

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