national

Panel on TEPCO reform calls for more cost-cutting measures

21 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2011 AFP

©2021 GPlusMedia Inc.

21 Comments
Login to comment

The panel also warned that TEPCO may have to seek new assistance from its creditors, which include Japan’s three main banks and major life insurers, saying that fresh concessions could come in the form of eased repayment terms, debt waivers, or debt-for-equity swaps.

besides 10~15% price hike. TEPCO will continue to hurt Japan gradually and over a long period of time.

3 ( +3 / -0 )

There you go! Talk of cutting golden parachutes already gone! Look down people, and you might find you are wearing a yoke!

1 ( +2 / -1 )

The blind leading the blind. In other words, politicians (such wonderful trustworthy men - women not allowed in Japan who love to help the public) want to fix problems they created in a bi corrupt company. But they're all corrupt, so no one has faith in this. And the figures are a joke: many thousands are affected, so even if they sold every screw the company owned, they couldnt compensate the victims. This is about saving TEPCO. Pitiful.

2 ( +2 / -0 )

Of course, cost-cutting was the cause of many of the problems. They cut costs when it came to safe construction. Why? To get money to build resorts?

It seems that there are many assets that should be sold off so that they can pay their debts.

2 ( +2 / -0 )

Interesting how I'm not reading anything about the upper management receiving pay cuts and no retirement / severance package / benefits. Is there no hope that somehow we'll see some honesty and responsibility enforced on TEPCO?

2 ( +2 / -0 )

Looks like TEPCO wants everyone to pay for the damages except their executives

2 ( +2 / -0 )

Tepco is worse than the yakuza Yamaguchi Gumi kai! At least Japan has laws against the Parasite yakuza but not yet against the parasites At Tepco and infesting Nagata cho!!!

2 ( +3 / -1 )

Since Tepco was also found to be overcharging customers for the past 10 years as well as exhibiting negligence by ignoring the safety recommendations and covering up incidents...Govt should freeze the assets of the past Tepco CEO,s that were in charge back them and put them towards the compensation costs...and yeah..no more golden parachutes for senior managment from now on.... Right ,,,back to reality now

2 ( +2 / -0 )

Shouldn't this article be under CRIME?? Instead of just National? Or Japanese Natinal Crime???

1 ( +2 / -1 )

It said the utility needs to streamline its operations by selling off 700 billion yen worth of assets such as resorts, housing for employees and offices over the next three years.

Never understood why an employer would want to provide housing for employees. I wouldn't want to live in a "company house" reminds me of share cropping back in the US, the same kind that Jimmy Carter's family owned on the Peanut farm. People lived on his family property, and had to buy feed and supplies from the "farm store" that his parents owned, letting the workers buy it on credit (which they charge high fees). Isn't that the same with living in a company house? Can't earn equity, even though you may be paying lower rent you are giving your pay back to the company.

What resorts do they own, and who was able to visit them? I think wha they should do is get rid of the "extra stuff" and get down to the business of producing energy in a safe manner. Pay the workers a decent salary and they can find their own place to live and not rely on the company to provide.

0 ( +1 / -1 )

They can call for cost-cutting till the cows come home, TEPCO will continue to cut it's costs only in terms of how much they have to pay in contrast to how much the execs earn. They'll cut the pensions of the everyday staff (not execs), lower the pay of the everyday staff (not execs), and increase utility costs for consumers, but the fat cats won't change a thing.

0 ( +0 / -0 )

I also suspect that within two years they'll say they can no longer pay out compensation claims.

0 ( +0 / -0 )

Most of the compensation to be paid by TEPCO will eventually be paid by the taxpayer which is too often the case?

0 ( +0 / -0 )

tepco needs to be put into bankruptcy so that it can't spend money without approval of a trustee.

0 ( +0 / -0 )

you have to fight back people. Unplug everything in your house when you are out except the fridge. I mean everything. The only thing I cannot unplug is the doorbell thing. Get rid of those electric carpets, open up the windows, and go hang out at friends houses. My 3 LDK mansion is now clocking about 2500 yen a month. Used to have an extra 0 on it.

1 ( +1 / -0 )

Well for starters, it is claimed that the ex-president Shimizu will get 3000000 yen a month as pension (nenkin) and he also got 500 MILLION yen as a retirement golden handshake...He was solely responsible for the lies submitted for a good many years and yet he gets rewards like this. I imagine there must be others close to his rank of pay and with massive stock portfolios to boot.

1 ( +1 / -0 )

Over the next three years, TEPCO will increase its power charges by 15% to help bring it back to profit?

0 ( +0 / -0 )

They should separate power generation from distribution, sell both off separately, require shareholders, bondholders and other creditors to take some sort of hit (but not for the loans the government persuaded banks to make after the quake), and use the proceeds to pay compensation. Then have a strictly regulated, privately run industry operating under the best global standards of safety and efficiency. With maximum incentivisation for hydro, wind, wave, tidal, solar and geothermal power generation.

0 ( +0 / -0 )

Let's see...TEPCO has 1.6 TRILLION yen yet in two years will owe 4.5 TRILLION. Now, THAT is the cost of nuclear energy, like it or not. Let the games begin...

0 ( +0 / -0 )

JapanGal, I have been doing that. Pretty amazing how many items I had plugged in just to tell the time. Pleased that I reduced my summer bill by 50% from last year. On the other hand, my neighbors on the floor, a family, ran that aircon 24 x 7. So, I'm sitting pretty, but the planet is going straight downhill.

0 ( +0 / -0 )

There's an internal TEPCO plan to restart reactors 5&6 and rebuild reactor 4 at the Fukushima 1 plant and to restart the Fukushima 2 plant. It believes this will be the only way back to profit.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites