Tokyo Electric Power Shutting Down PR Unit

Tokyo Electric Power Co, or TEPCO, is liquidating its PR unit in order to make compensation payments resulting from the troubles at the Fukushima Daiichi power plant. The company has had sustained problems with the plant, stemming from damage after the tsunami and earthquake that struck Japan in March. TEPCO customers in are being asked to cut their power consumption this summer starting July 1.

The company is trying to raise ¥600 billion to make these payments. Payments could total much more than that.