Tokyo Electric Power Co. and a state-backed bailout fund submitted to the government Friday a restructuring plan to help the company overcome its financial plight following the Fukushima Daiichi nuclear power plant disaster, such as through the injection of 1 trillion yen in public funds and electricity rate hikes.
The so-called comprehensive special business plan will become official once Economy, Trade and Industry Minister Yukio Edano gives his approval, possibly in early May, paving the way for the de facto nationalization of Japan's largest utility known as TEPCO.
The content of the document will be announced after gaining approval, TEPCO and the Nuclear Damage Liability Facilitation Fund said.
