Tepco turns to (JAPANESE) government for cash

[AsahinaKimi]

Utility claims it cannot cover the cost of compensating victims of the nuclear disaster

By MASAMI ITO
Staff writer

Embattled Tokyo Electric Co. President Masataka Shimizu officially asked the government Tuesday to help shoulder the burden of compensating people affected by the disaster at the Fukushima No. 1 nuclear plant.

The utility is facing trillions of yen in payouts to residents and local governments around the plant, which has been leaking radiation since the March 11 earthquake and tsunami.

Unlikely able to afford the compensation on its own, Tepco must also spend tens of billions of yen to decommission the reactors at the stricken plant.

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