Tuesday, July 31, 2012

Tepco Ownership?



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..."

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
[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...."
 
[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.



 

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