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TEPCO stock dives on restructuring talk

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TEPCO stock dives on restructuring talk

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Shares of Tokyo Electric Power fell to their lowest ever after the head of the Tokyo stock exchange said the operator of the quake-hit Fukushima nuclear plant should be put through a court-controlled restructuring.

That would mean them being delisted from the Japanese bourse, as happened with Japan Airlines, when it filed for bankrupcty protection.

In a newspaper interview TSE’s president Atsushi Saito said: “Tepco should be dealt with using the same court-sponsored process as was used with Japan Airlines.” He added: “With political leadership, it would be possible.”

Japan’s government responding by saying there would be no such restructuring.

The government said TEPCO should remain solvent and listed as it battles to restore power output and compensate victims of the nuclear crisis.