Tepco, Fukushima Compensation Body to Compile Business Plan

Tokyo Electric Power Co. and the state-backed body helping compensate those affected by the Fukushima nuclear disaster will compile a business plan including cost cuts for the utility by late October.

The company known as Tepco needs to carry out “thorough reforms” including cutting staff costs, Takehiko Sugiyama, the head of the body, told reporters today after an opening ceremony for the compensation organization’s offices in Tokyo. The business plan will have input from a government committee investigating Tepco’s finances, he said.