Entries in Masataka Shimizu (2)


TEPCO President to Resign; Company Reports Record Loss

YOSHIKAZU TSUNO/AFP/Getty Images(TOKYO) -- The president of the power company that operates Japan's crippled Fukushima Daiichi nuclear power plant announced Friday that he will step down from his position.

Masataka Shimizu's resignation comes as Tokyo Electric Power Co. reported a record net loss of nearly $15 billion for the fiscal year ending in March.  That loss is greatly due to the March 11 earthquake and tsunami that rocked Japan, damaging the Fukushima Daiichi plant and spreading fears of a nuclear crisis.

Shimizu also announced that TEPCO will scrap four of the power plant's damaged reactors, units one through four.  Plans to build two new reactors at Fukushima Daiichi will also be abandoned.

TEPCO's current managing director, Toshio Nishizawa, will step in as the company's new president.  His takeover will be made official in June.

Copyright 2011 ABC News Radio


President of Power Company that Runs Japan's Nuclear Plant Hospitalized

DigitalGlobe via Getty Images(TOKYO) -- The president of the power company operating Japan's troubled Fukushima Daiichi nuclear power plant has been hospitalized as fears of a nuclear meltdown at the plant continue to rise.

Masataka Shimizu, 66, was admitted to a hospital after suffering from high blood pressure and dizziness, a spokesman for Tokyo Electric Power Company announced at a news conference Wednesday.

TEPCO also said that its chairman, Tsunehisa Katsumata, will step in and take charge of the company while the president is being treated.

Shimizu hasn't been seen in public in over two weeks.  His last public appearance was at a news conference on March 13, two days after the devastating earthquake and tsunami struck Japan.

Copyright 2011 ABC News Radio

ABC News Radio