LOC11:04
08:04 GMT
(With Photo)
TOKYO, June 28 (KUNA) -- Tokyo Electric Power Co. (TEPCO) Chairman
Tsunehisa Katsumata on Tuesday apologized for causing troubles and concerns to
shareholders over the accident at its Fukushima Daiichi nuclear power plant,
while reiterating that the operator will end the ongoing nuclear crisis as
soon as possible.
"On behalf of all of the executives, I want to apologize to our investors
and society for causing inconvenience," Katsumata said at the outset of
TEPCO's annual shareholders meeting, which was held under tight security with
more than 250 police officers.
"We are doing our best to get out of this crisis and compensate people
forced to evacuate around the Fukushima plant as soon as possible," he said,
seeking shareholders' support.
The magnitude-9.0 earthquake and tsunami on March 11 knocked out cooling
systems at the Fukushima plant, 230 km north of Tokyo, causing reactors to
overheat, triggering explosions and radiation leaks.
The worst nuclear disaster since Chernobyl in 1986 has also forced nearly
80,000 residents around the plant to evacuate and damaged the agriculture,
livestock and fishery industries in the region. TEPCO aims to bring radiation
crisis under control by January.
According to TEPCO, a record 9,258 shareholders attended the annual event,
compared with last year's figure of 3,342. The meeting was often interrupted
with yells and harsh questions by angry shareholders. Some said the accident
was a man-made disaster, and the other said senior executives are not taking
enough responsibility.
The utility is also facing denuclearization motion submitted by more than
400 individual shareholders, on whether it will withdraw from nuclear power
generation. The motion requires a two-thirds majority vote to be approved, and
the voting is expected to be held later in the day.
Since the March 11 disaster, TEPCO shares have plunged 85 percent, and
major US rating firms such as Moody's Investors Service Inc. and Standard and
Poor's have downgraded its credit rating. The compensation to be paid by TEPCO
could cost at least JPY 3 trillion (USD 37.4 billion).
Prime Minister Naoto Kan's government approved on June 14 a bill to help
TEPCO to pay massive compensation to victims of the world's worst radiation
crisis in 25 years while maintaining a stable supply of electricity. The bill
calls for the establishment of a new state-backed institution that will
receive financial contributions from other electricity firms facing possible
future nuclear accident compensation claims.
Meanwhile, engineers at the Fukushima plant started cooling the damaged
reactors by using decontaminated water on Monday, but the operation was
suspended just 90 minutes later due to a water leak. (end)
mk.asa
KUNA 281104 Jun 11NNNN