Tepco struggles to contain crisis
Power company considers money-saving options

Tokyo: Tokyo Electric Power Company may sell assets, reduce pension benefits and eliminate jobs to shore up finances as it struggles to contain the worst nuclear crisis since Chernobyl and compensate victims, Japanese media reported.

The utility, known as Tepco, may sell Toden Real Estate as part of a restructuring programme, the Yomiuri newspaper reported yesterday, without saying where it got the information.

The unit has 180 billion yen (Dh8.2 billion) in assets including about 460 commercial and residential buildings under management, the report said.

Tokyo Electric may also sell At Tokyo Corporation, a unit that operates a data centre, Yomiuri said.

[link to gulfnews.com]

- might have to have a big yard sale.