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JAPAN NEWS AND DISCUSSION

TEPCO to raise Y20 bil for nuclear compensation payouts

National Oct. 24, 2011 - 09:00AM JST ( 11 )

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11 Comments

-1

some14someOct. 24, 2011 - 07:19AM JST

20% = Yen20 bil ok, Y10bil to finance payouts to victims ok. Who's buying 20% from TEPCO? and what about balance Yen 10bil? internal misappropriation or i am still half-asleep?
-1

FutureJamesOct. 24, 2011 - 07:21AM JST

err 10 billion yen raised out of 4.5 trillion even after selling that major stake? How are they supposed to make the rest of the 4.49 trillion by 2013?
1

zichiOct. 24, 2011 - 07:39AM JST

TEPCO stated on Oct.21 that it would sell off ¥400 billion ($5.2 billion) of its assets in this fiscal year, and plans to sell off ¥700 billion of assets within three years.

TEPCO stated it need ¥700 billion for compensation payments in the current fiscal year.

Stocks will account for most of the assets sales. TEPCO owned a total of ¥350 billion of stocks at the end of March. It will also sell off ¥10 billion in real estate.

An insurance system based on the Act on Compensation for Nuclear Damage allows 120 billion yen of that amount to be covered by the government. TEPCO soon plans to ask the government for the payment.
0

whiskeysourOct. 24, 2011 - 07:48AM JST

Even though victims will not get the money they deserve, the people of japan (especially Kanto Region ) will pay the full price for this fiasco.
1

zichiOct. 24, 2011 - 07:54AM JST

All taxpayers in Japan including tourists will be paying for the TEPCO melt downs, i.e. compensations, decontamination, disposal of debris which will also include the debris from the quake and tsunami, the decommissioning of the Fukushima plant, the disposal and storage for decades of highly radioactive waste. It will all run into trillions and trillions of yen in debts passed onto a future generation.

And so many just keep saying " nuclear energy is cheap and clean".
-2

herefornowOct. 24, 2011 - 09:24AM JST

The JPY 20.0 billion is less that 1/2 of 1% of the JPY 4.5 trillion tab. I think they need to try a little harder.
1

CrickyOct. 24, 2011 - 10:29AM JST

Think they should produce a 176 page document explaining how they intend to do this.
0

gogogoOct. 24, 2011 - 10:57AM JST

How much is your life worth?
0

GWOct. 24, 2011 - 11:24AM JST

tepco, sell ALL 60% to Toshiba! not just 1/3!

Stupids SOBs
-1

alpachincoOct. 24, 2011 - 11:27AM JST

half of the sale will go to victims, the other half will line the pockets of the fatcats that run tepco. is that about right?
0

BurakuminDesOct. 24, 2011 - 12:16PM JST

Let's hope ALL TEPCO employees from the jerk CEO down are forced to give up bonuses permanently, and take at least a 30 percent pay cut. Can't live on that? TOUGH - get a real job.