Shareholders demand more reforms at Japan utility

[June 27, 2012]  TOKYO (AP) -- The power company behind Japan's nuclear crisis got support from shareholders for its decision to take 1 trillion yen ($12.6 billion) in public funds to cover huge compensation and cleanup costs.

But shareholders including the Tokyo city government demanded more restructuring and safety improvements from Tokyo Electric Power Co., which operates the tsunami hit Fukushima Dai-ichi nuclear plant.

Hundreds of thousands of people had to evacuate the area around the plant due to radiation leaks from reactor meltdowns following the March 11, 2011 earthquake and tsunami.

Eight other utilities across Japan also held annual shareholders meetings Wednesday, seeking support for a restart of idled reactors.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.