Japan to buy Fukushima operator Tepco

Japan has agreed to buy Tokyo Electric Powr (Tepco), the operator of the Fukushima nuclear power plant which went into meltdown after the devastating earthquake and tsunami of 2011. Japan’s […]

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By Vicky Ellis

Japan has agreed to buy Tokyo Electric Powr (Tepco), the operator of the Fukushima nuclear power plant which went into meltdown after the devastating earthquake and tsunami of 2011.

Japan’s Minister of Economy, Trade and Industry Yukio Edano is said to have approved the business deal yesterday. According to reports the Government will take a majority share in Tepco in return for a bailout of one trillion yen (£7.8bn).

The Fukushima Daiichai plant was damaged in the natural disaster and Tepco faces huge clean up and compensation costs.