1. News Articles
  2. Related News Articles
News Article Details

Japanese Government May Cap Tepco's Liability for Nuclear Plant Damages

Posted on 14 Apr 2011

Facebook LinkedIn Twitter Google

Reports coming out of Japan on Wednesday said that the Japanese government may cap Tokyo Electric Power Co.'s liability to $24 billion for damages related to its troubled Fukushima Diachii nuclear reactor.

Under the plan which is being considered by the firm and the government, Tepco's liability would be limited to 2 trillion to 3.8 trillion yen ($24 billion - 45 billion), and the company would pay 100 billion to 200 billion yen annually for 15 years from its profits, according to the reports.

The proposal is designed to ease global fears about Tepco, which is Japan's largest corporate bond issuer and its shares are widely held by financial institutions, the reports said.