Tepco to Sell Real Estate, Seek Partners in New Strategy

Tokyo Electric Power Co. is aiming to sell around 200 billion yen ($1.3 billion) of assets within three years, as it looks to fund its Fukushima clean-up efforts and meet rising power demand.

Japan’s biggest utility has identified 60 or so properties to sell, and would also offload some securities holdings and affiliate shares, it said in a business plan that was approved by the government on Monday. Tepco shares fell 3.8% on the day.