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TEPCO asks for $12 bn capital injection

The operator of the Fukushima nuclear plant on Thursday asked the Japanese government for a capital injection of $12 billion in a bid to avoid insolvency. Tokyo Electric Power (TEPCO) officially requested one trillion yen, because it is in a “very serious financial condition,” President Toshio Nishizawa told a news conference. The firm separately asked a state-backed entity…

New Fukushima scare blamed on faulty thermometer

TOKYO (Reuters) – A scare over temperatures rising near danger level in a reactor at Fukushima Daiichi nuclear plant, where workers are battling to prevent a resurgence of the radiation crisis, could be a false alarm, the plant operator said on Monday. Instruments showed the temperature inside the plant’s No.2…

Japan ‘was unprepared’ for nuclear disaster

TOKYO — The operators of the tsunami-stricken Fukushima nuclear power plant and government regulators were woefully unprepared for disaster, the first official probe into the March 11 catastrophe said Monday. An independent panel set up to investigate the events around the world’s worst nuclear accident in a generation said Tokyo…

Japan mulls $13 billion Fukushima bailout -source

TOKYO (Reuters) – The Japanese government may inject about $13 billion into Tokyo Electric Power Co as early as next summer in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, sources said on Thursday. Tepco’s future as an independent firm has been in doubt…

Japan nuclear meltdown ‘maybe worse than thought’

Molten nuclear fuel at Japan’s Fukushima plant might have eaten two thirds of the way through a concrete containment base, its operator said, citing a new simulation of the extent of the March disaster. Tokyo Electric Power (TEPCO) said their latest calculations showed the fuel inside the No. 1 reactor…

Fukushima nuclear plant director is sick

The director of Japan’s crippled Fukushima Daiichi nuclear plant is stepping down due to illness, the facility’s operator said Monday but it was not clear if his condition is radiation-related. Masao Yoshida, 56, who has been on site at the plant since Japan’s March 11 earthquake and tsunami disaster, has been hospitalised for “treatment of…

TEPCO shares close up 20% in Tokyo trade

Shares in TEPCO closed up 20 percent in Tokyo trade Monday after Chief Cabinet Secretary Yukio Edano said he was unaware of alleged meetings between officials over the breakup of the company. Shares in Tokyo Electric Power Co., operator of the stricken Fukushima Daiichi plant at the centre of an…

Fukushima engineers knew of critical design flaw years in advance

Officials at the Tokyo Electric Power Company (TEPCO) and engineers at the Fukushima nuclear power plant knew for years about a critical design flaw in the plant’s older reactors, but declined to do anything about it, according to a report in The Wall Street Journal. An electric switching station the…

Fukushima nuclear plant to get 370 tanks for radioactive water

TOKYO — Hundreds of water tanks are to be sent to Japan’s crippled Fukushima nuclear plant to hold thousands of tons of water contaminated in the effort to keep its reactors cool, the operator said Sunday. Tokyo Electric Power Co. (TEPCO) has sourced 370 tanks with a total capacity for…

Fukushima plant not ready for approaching typhoon

Officials from the Tokyo Electric Power Company (TEPCO) are apologizing in advance for the fact that the stricken Fukushima nuclear plant is not ready for the high winds and heavy rain of Typhoon Songda, a massive storm that could make landfall in Japan as early as Monday. The BBC quotes…

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