Tokyo Electric calls situation "severe"

A severe business situation has prompted Tokyo Electric Power Company to establish a new business management plan.

The company attributes its problems in stability in supply and demand of electricity and in environmental issues to the shutdown of all units of its Kashiwazaki-Kariwa Nuclear Power Station in 2007, wild fluctuations of oil prices, and rapidly worsened world economy.

Based on what Tokyo Electric Power Company or TEPCO calls a "severe situation," the firm treats 2009 as a crucial year for a breakthrough and has established plans that organise challenges and targets to be intensively addressed toward future growth and development.

The plan tackles the establishment of disaster-resistant nuclear power stations, the securing of stable supply of electricity, cost reduction, and the creation of a much stronger business structure.

These are embodied in the company’s Fiscal 2009 Business Management Plan.