Tepco Falls Most on Record as Bankruptcy Concern Resurfaces
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Tokyo Electric Power Co. shares fell the most on record after the head of Japan’s biggest stock exchange said the utility should follow the same route as Japan Airlines Co. in 2010 and file for bankruptcy protection.
The owner of the crippled Fukushima Dai-Ichi nuclear plant plunged as much as 28 percent to 206 yen, the most since at least September 1974, and was the biggest decliner on the MSCI Asia Pacific Index. The cost of protecting the debt of the utility known as Tepco traded at a record 1,150 basis points today, Royal Bank of Scotland Group Plc prices show.