Already battered by the world's worst nuclear crisis in 25 years, Tokyo Electric Power Co on Tuesday faces furious shareholders whose investments have evaporated after the March 11 disasters.
TEPCO shares have lost around 85 per cent of their value since a 9.0 magnitude earthquake triggered a tsunami that crippled cooling systems at the Fukushima Daiichi nuclear plant, with three reactors suffering meltdowns.
The company faces huge costs amid anger at its handling of the crisis and the prospect of public funds being used as part of a public-private government scheme to ensure TEPCO can meet trillions of yen in compensation.
Around 85,000 people have been evacuated from their homes, farms and businesses in a 20-kilometre (12-mile) zone around the radiation-spewing plant, with evacuation pockets also further afield.
Riot squads and around 150 police officers will be deployed around the hotel in Tokyo where the annual meeting of shareholders is to take place Tuesday with protests planned by residents of Fukushima and anti-nuclear activists.
'My anger for TEPCO is beyond words. I want to tell them to take all responsibilities,' Toshiko Furusho, a 72-year-old shareholder pushing for TEPCO to abandon nuclear power, told AFP.
'There is no way our tax money should be used to cover compensation.'
Analysts say the event will see fiery debate on the fate of TEPCO's nuclear power business, while attendance is expected to be higher than last year's 3,342.
A proposal for the company to abandon nuclear power will be presented to the company's 746,927 shareholders with voting rights, but is highly unlikely to be adopted, according to Japanese media.
Source : New Age
