Tepco to ask for $12bn to help with compensation

TOKYO: Tokyo Electric Power has asked for about 900 billion yen ($12 billion) from a government-sponsored bailout body as the first instalment of tax payer-funded assistance to pay for compensation from the crisis at its Fukushima nuclear plant, sources familiar with the matter said on Friday.

The utility plans to submit a special business plan later in the day to Trade Minister Yukio Edano, whose approval is necessary for the firm to receive the money.