It was another sad day in Japan as the Tokyo Electric Power Company has acknowledged that the company has reportedly suffered from 1.25tn yen roughly equivalent to $15B for the past year. Apart from that, the president of Tepco, Mastaka Shimizu, the one responsible for operating the Fukushima nuclear power plant also resigned from his post.
In a press conference in Tokyo, Shimizu acknowledged, “I wanted to take managerial responsibility and bring a symbolic close. We put the highest importance on experience and expertise in our business operations when we chose the person for the top post.” Speaking to the public, he further remarked, “We want to sincerely apologize for our nuclear reactors in Fukushima causing so much anxiety, worry and trouble to society.”
The resignation of Shimizu was expected as he was harshly criticized for not making a public appearance in the event of the problems in the nuclear reactors. Reports show that he was later hospitalized because of episodes of dizziness.
Now, Tepco will be controlled by managing director Toshio Nishizawa.