Japan Today: TEPCO gets Y1 tril in public funds, putting it under gov't control. July 31. http://www.japantoday.com/category/national/view/tepco-gets-y1-tril-in-public-funds-putting-it-under-govt-control
[Excerpted] "(TEPCO) on Tuesday received an injection of 1 billion yen in public funds, effectively putting the utility under government control.
The 1 trillion yen is part of a 10-year restructuring aimed at preventing the vast regional power monopoly from going bankrupt. TEPCO faces a huge clean-up bill for the nuclear disaster at Fukushima, along with colossal compensation claims from those affected. The government now holds more than a 50% stake in TEPCO...."
The government stake is 50%.
Who else owns Tepco?
This is the research I found a couple of months ago:
Most of Tepco’s shares were held by Japanese firms.[i]
On Thursday, April 12, 2012 Kyodo reported that "Tokyo now top Tepco shareholder"
http://www.japantimes.co.jp/text/nb20120412a7.html
"The
Tokyo Metropolitan Government became the largest shareholder in Tokyo
Electric Power Co. at the end of March, the utility said Wednesday,
after other top shareholders — Dai-ichi Life Insurance Co. and Nippon
Life Insurance Co. — sold parts of their stakes..."
http://www.japantimes.co.jp/text/nb20120412a7.html
State Street Bank West Client Treaty, located in Boston, U.S., held 13,675 shares and a Chinese investment firm, SSBT OD05 Omnibus Account Treat Clients[ii] held 15,116 shares. [iii]
Here are the stock listing of major shareholders dated 3/2012.
Tepco shareholders were suing the company in May. I never heard the outcome of that story.
Reuters - Shareholders of Tokyo Electric Power Co Inc, operator of the
crippled Fukushima nuclear plant in northeast Japan, are suing the
utility's executives for a record 5.5 trillion yen ($67.4 billion) in
compensation, lawyers said.
One has to wonder who the shareholders are and what role they are playing in the cover-up of the biggest nuclear disaster in human history.
Sources
[ii] This
appears to be Chinese investment vehicle http://www.morningstar.com/topics/t/37234770/last-year-ssbt-od05-omnibus-account-treaty-clients-appeared-as-a-top-10-shareholder-in-several-major-japanese-companies-behind-ssbt-china-which-has-stealthily.htm.
[iii] Here
are the stock listing of major shareholders:
http://www.tepco.co.jp/en/corpinfo/ir/stock/stock-e.html. Background on State
Street can be found here: http://www.ssga.com/webapp/glp/about.jsp?tab=1; also State
Street http://investing.businessweek.com/research/stocks/people/person.asp?personId=2863999&ticker=STT:US.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.