TEPCO share price plunges to record low
Source: Agencies |
April 6, 2011, Wednesday
|
Print Edition
Print Edition
SHARES in the operator of Japan's tsunami-wrecked nuclear power plant plunged to their lowest yet yesterday amid growing doubts about its ability to contain the disaster.
Tokyo Electric Power Co, known as TEPCO, dropped 80 yen - the maximum daily limit - or 18 percent, to just 362 yen (US$4.3), falling below its previous all-time closing low of 393 yen from December 1951.
TEPCO's coastal Fukushima plant has been leaking radiation since the March 11 quake and tsunami knocked out crucial cooling systems.
Since the quake, the company's share price has nose-dived a staggering 80 percent. The Tokyo Stock Exchange said investors have dumped shares worth 1.06 trillion yen since March 11.
"Investors are continuing to sell TEPCO shares due to uncertainty over the nuclear crisis," said Kazuhiro Takahashi, equity analyst at Daiwa SMBC Securities Co Ltd.
TEPCO yesterday started paying "condolence money" on victims of the worst nuclear crisis since Chernobyl.
The company said it had started payments to local governments to aid people evacuated from around the plant or affected by the crisis.
"We are still in discussion as to what extent we will pay on our own and to what extent we will have assistance from the government," Executive Vice-President Takashi Fujimoto told a news conference.
He said TEPCO offered 20 million yen to towns near the reactors whose residents were forced to evacuate. Another official said 10 towns had been offered that sum but one refused it.
TEPCO is likely be saddled with massive compensation claims that some analysts estimate at several trillion yen.
Tokyo Electric Power Co, known as TEPCO, dropped 80 yen - the maximum daily limit - or 18 percent, to just 362 yen (US$4.3), falling below its previous all-time closing low of 393 yen from December 1951.
TEPCO's coastal Fukushima plant has been leaking radiation since the March 11 quake and tsunami knocked out crucial cooling systems.
Since the quake, the company's share price has nose-dived a staggering 80 percent. The Tokyo Stock Exchange said investors have dumped shares worth 1.06 trillion yen since March 11.
"Investors are continuing to sell TEPCO shares due to uncertainty over the nuclear crisis," said Kazuhiro Takahashi, equity analyst at Daiwa SMBC Securities Co Ltd.
TEPCO yesterday started paying "condolence money" on victims of the worst nuclear crisis since Chernobyl.
The company said it had started payments to local governments to aid people evacuated from around the plant or affected by the crisis.
"We are still in discussion as to what extent we will pay on our own and to what extent we will have assistance from the government," Executive Vice-President Takashi Fujimoto told a news conference.
He said TEPCO offered 20 million yen to towns near the reactors whose residents were forced to evacuate. Another official said 10 towns had been offered that sum but one refused it.
TEPCO is likely be saddled with massive compensation claims that some analysts estimate at several trillion yen.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
