The Japanese government is considering injecting at least 1 trillion yen ($12.9 billion) into Tokyo Electric next year to shore up the depleted capital of the Fukushima nuclear plant operator, the Mainichi newspaper reported on Thursday.
The company faces the growing possibility that it will fall into negative net worth in the financial year ending in March 2013, the paper said.
A government-run bailout fund would buy preferred shares to be issued by Tokyo Electric, but the firm needs to get shareholders' approval at their next annual gathering in June next year to lift the ceiling on the number of total shares, the paper said. (Reuters)
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