Tepco begins soliciting alliance partners as part of restructuring
Tokyo Electric Power Company (TEPCO)'s Kashiwazaki Kariwa nuclear power plant, one of the world's largest nuclear facilities, is pictured in Kashiwazaki, Niigata prefecture, Japan, January 21, 2026, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS
TOKYO, Feb 2 : Japanese utility Tokyo Electric Power said on Monday it has begun seeking potential alliance partners as part of its restructuring efforts to improve its financial situation and pursue growth.
The company, known as Tepco, said last Monday that it plans to cut about 3.1 trillion yen ($20 billion) in costs over 10 years through restructuring, while seeking alliances to advance reforms and capture demand from data centers.
The period for seeking partners runs through March 31.
Tepco, the operator of the Fukushima Daiichi nuclear power plant that suffered one of the world's worst nuclear disasters in 2011, faces mounting costs for decommissioning, the clean-up operation and compensation. It continues to rely on government funding to cover disaster-related costs.
President Tomoaki Kobayakawa said last week that the company would seek alliances to pursue bold reforms that achieve both its responsibility to Fukushima and economic growth.
The partnership could lead to a major reorganization of Tepco, according to local media.
