Tokyo Electric Power Company
TYO:9501 ISIN:JP3585800000
Tokyo Electric Power Company, Incorporated (The) was established in 1951 and is Japan's largest electric power supplier. The company is based in the Tokyo metropolitan area and surrounding prefectures, operates one hundred and fifty seven hydroelectric power plants, twenty nine thermal power plants and three nuclear power plants and supplies electricity to about 23.2 million households and 2.8 million commercial and industrial customers. One of the world's largest electric utilities, TEPCO has a generating capacity of 57,800 MW, produced by fossil fuel (56%), nuclear (30%), and hydroelectric (14%) power sources. Seeking diversity in the face of a reduced monopoly status caused by deregulation, TEPCO is moving into communications. It owns a major stake in Tokyo Telecommunication Network (TTNet, local and long-distance phone service). TEPCO is in a telecommunications joint venture with nine other Japanese electric companies.
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News
Asian shares could be lifted after US and European markets rallied overnight on optimistic outlook of 2010. Yesterday Asian markets mostly kicked off the new year with gains. Japan's Nikkei surged 1 per cent on yen's weakness and a financial lifeline to Japan Airlines. The global markets also cheered for the strong manufacturing data from China and India. However, China's Shanghai Composite fell 1 per cent on Monday over fears on inflation.
US stocks soared on Friday after the Labor Department data showed that job cuts fell sharply in November. The news fuelled the expectations that the US Federal Reserve might consider increasing interest rates.
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