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The Tokyo Electric Power Company (Tepco) may face as much as 2 trillion yen or almost 24 billion dollars in compensation claims following the nuclear accident triggered by the recent disasters. That’s according to investment firm JP Morgan.
The company has been grappling to contain the radiation leak crisis at its Fukushima Daiichi nuclear plant.
Japan's Nuclear and Industrial Safety Agency today raised the severity of the nuclear crisis at the plant to level 7.
Japan has evacuated people living within a 20km radius of the plant. The power station was one of the worst hit by the earthquake and tsunami which engulfed much of Japan on 11 March.
As the company struggles to contain the nuclear crisis, its shares have taken a beating on the Tokyo stock exchange.
Tepco shares have lost more than 75% of their value since 11 March, in the process hitting all-time lows.
Source: Joy Business/Ghana
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