TEPCO opens Fukushima HQ to deal with compensation
Japan Today —
Tokyo Electric Company (TEPCO) on Friday opened a headquarters in Naraha, Fukushima Prefecture, specifically to deal with paying compensation to victims of the nuclear crisis.
Thus far, the utility has been processing applications and paying compensation from its Tokyo head office, but company officials said the process will function more smoothly with a major office near the front line, Fuji TV reported. Naraha is about 20 kilometers from the Fukushima Daiichi nuclear power plant. TEPCO is using J Village, a former soccer facility, for its headquarters.
Currently, TEPCO has 3,500 employees in Tokyo handling claims for compensation. Those 3,500 plus another 500 staff will be transferred to the new office in Fukushima over the next few months, TEPCO said.
Last month, TEPCO slashed its fiscal-year loss projection, citing asset sales and cost-cutting for the change. The utility said it expects to lose 45 billion yen this year instead of the 160 billion yen initially forecast, although it still faces huge post-disaster compensation costs and higher power generation expenses, despite a government bailout and a price hike.