The power company behind Japan's nuclear crisis got support from shareholders Wednesday for a decision to take 1 trillion yen ($12.6 billion) in public funds that effectively nationalizes the utility.
Meanwhile, activist shareholders including the Tokyo city government demanded more restructuring and safety improvements from Tokyo Electric Power Co., which owns the crippled Fukushima Dai-ichi nuclear plant.
Outgoing TEPCO Chairman Tsunehisa Katsumata told more than 4,000 shareholders who gathered at a national gymnasium in downtown Tokyo that the utility desperately needs taxpayer money to avoid insolvency. It faces huge compensation and cleanup bills.
"We are cutting to the bone to restructure," he said, as shareholders yelled at him, criticizing him as clinging to the top post for more than a year after the crisis. Katsumata will be replaced by Kazuhiko Shimokobe, a lawyer who headed the company's restructuring plans.
The 1 trillion yen needed to stay in business brings the total amount of public money injected into TEPCO to 2.5 trillion yen ($30.7 billion).
The meeting also approved the appointment of Naomi Hirose as president, replacing Toshio Nishizawa.
With crackdowns on violators of child prostitution and pornography statutes having increased in recent years, Nikkan Gendai (May 17) wonders how a manager of an online operation that primarily sold lolicon (“Lolita complex”) films was able to evade detection for an extended period prior to his arrest earlier this month. (Tokyo Reporter)
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )
The parents of a nightclub worker killed in an arson fire three years ago filed a suit in the Nagoya District Court on Monday seeking damages against top members of the Yamaguchi-gumi organized crime group. (Tokyo Reporter )
Kyodo News said Monday that it has dismissed Satoshi Kondo, 51, deputy chief of its general administration bureau and former personnel affairs division chief, for meeting individually with a female student searching for a job and doing an inappropriate act.
(Jiji Press )