The City of Tokyo: Second Largest Shareholder
On 11 April 2012 TEPCO announced that the Tokyo had become the largest shareholder of the firm with 9.37 percent voting rights, after former largest share holders Dai-ichi Life Nippon Life Insurance Co. and Nippon Life Insurance Co. had sold their 3.42 and 3.29 percent stakes in the company. The two life insurance companies had lost their interest in TEPCO, after the shares had lost almost all their value at the stock market. At the next shareholders meeting of TEPCO in June 2012 Tokyo hoped to be able to put a halt to TEPCO's plans raising the price of electricity.
Read more about this topic: Tokyo Electric Power Company
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