Tokyo Electric Power Company Holdings, Incorporated | Partial Amendment to the Articles of Incorporation (3) at Tokyo Electric Power Company Holdings, Incorporated

Status
AGM passed
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
9501
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Biodiversity / nature
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The following new chapter shall be added to the Articles of Incorporation. Chapter X. Withdrawal from the reprocessing business Article X. The Company shall not invest or provide financial support regarding the reprocessing business. Article X. The Company shall take measures to prepare for the discontinuation of the business with Japan Nuclear Fuel Limited and its associated organizations.
Supporting statement
The reprocessing business has no merit, while the Company must bear a considerable amount of costs and enormous risks. MOX fuel, the product of reprocessing, is significantly more expensive than uranium fuel, costing 10 times or more, so it lacks economic rationality. Even during normal operations, in a single day a reprocessing plant discharges an amount of radioactive substances equivalent to that released from a nuclear power plant in a year. The sea area near the Rokkasho Reprocessing Plant, which will be affected by this unprecedented level of burden, is an internationally important fishing site boasting an abundant ecosystem. Sea contamination will not only affect fisheries but also pose a serious risk to consumers’ diets and health on a broad scale. Once a major accident occurs at a reprocessing plant, it can cause irreversible damage to communities and the natural environment, with long-term effects that will utterly destroy people’s lives and industries. The Company will not be able to sustain its operations as it has over 22.0 trillion yen in debt to address only the nuclear accident, spending about 8.0 trillion yen for the decommissioning of the reactors, about 9.0 trillion yen for compensation, and about 6.0 trillion yen for decontamination, etc. The Company shall not proceed with the reprocessing business, which involves substantial investment and risks.

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