TEPCO will look for new business partners under a restructuring plan

Tokyo Electric Power Company Holdings (TEPCO), will look for new business partners under a restructuring plan. The operator of the disabled Fukushima Daiichi nuclear plant hopes a tie-up will support decommissioning and boost earnings. The government approved TEPCO’s 10-year plan on Monday.

The firm needs to secure funds to compensate for the 2011 nuclear accident and to decommission reactors. TEPCO’s President said, “Mid to long term, alliances with other companies will be key to the decommissioning process of the reactors and improving corporate value.” TEPCO plans to sell stock holdings and real estate worth about 1.3 billion dollars within three years.