Economics
Tepco Falls After President Highlights Fukushima Cost Risk
- Japan utility declines 3.3% to settle at lowest in two weeks
- Company seeks government help to eliminate insolvency risk
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Tokyo Electric Power Co. Holdings Inc. closed at the lowest in more than two weeks after its president said it may face insolvency if it recognized at one time the cost of decommissioning the wrecked Fukushima nuclear plant and that it’s asked the government to help eliminate the risk.
Tepco, as the company is better known, fell as much as 7.9 percent during intraday trading and closed 3.3 percent lower at 414 yen a share in Tokyo, the lowest since Sept. 16. The benchmark Topix index rose 0.6 percent.