Tepco Reports $15bn Loss, President Masataka Shimizu Resigns

By STAFF Writer
May 20, 2011

Tepco President Masataka Shimizu Resigned

JAPAN NEWS – The president of Tepco, Masataka Shimizu, who operated Japan’s crippled Fukushima nuclear power plant, has resigned from his post after reporting a loss of 1.25tn yen ($15.3bn; £9.4bn) over the last year. It is reported that managing director Toshio Nishizawa will replace Masataka Shimizu in this month.

Japan had seen a devastating earthquake followed by tsunami that severely smashed up the Fukushima nuclear plant, and it has been radiating ever since. The crippled nuclear plant has spread panic all across the nation, and even tourists are advised not to visit the Fukushima region for safety reason.

In a news conference Mr. Shimizu addressed a bunch of journalists, saying he wanted to take managerial responsibility and bring a symbolic shut his current job. He further emphasis on experience and proficiency to handle the top post.

The loss of Tepco in the last financial year is the biggest in the history of corporate loss in Japan. In the previous year the company enjoyed a profit of 134bn yen. But this year, due to leaking of nuclear reactor and eventually the devastation caused by it, cost heavily on the company.

Mr. Shimizu was heavily carped for absence for two weeks after the disaster. Later on he was hospitalized for dizzying spell.

"We want to sincerely apologise for our nuclear reactors in Fukushima causing so much anxiety, worry and trouble to society," Mr Shimizu said.

After the radiation threat, the government sealed the place and evacuated the residents from the region around the nuclear plant. The company had to pay compensation to the victims and asked to solve the problem.

Bank of America Merrill Lynch estimated around 11tn yen as compensation.

Radioactive Litter Threatens Japan Marine Life

By ETHAN Markoff

JAPAN NEWS - Japan nuclear disaster not only affects on human lives but slowly permeating to its rich marine life. In a recent announcement by Japan’s Agency for Natural Resources and Energy that says high levels of radioactive cesium have been discovered in seawater. The report raises the possibility of radioactive infiltration into the food chain and could be fatal for living organisms.

The radioactive substance cesium was found near the Fukushima Daiichi nuclear power plant and 20 times higher than the normal level. Although the in comparison to other radioactive isotopes spilled from the plant, cesium leaking is less, still scientists have warned cesium 137 poses the greater long-term danger to the marine food chain.

Other prevalent radioactive element like iodine 131 degrades relatively fast, becoming half as potent every eight days. So, the lethal effects can be countered by banning fishing and consumption of sea food for a specific span of time. Cesium 137, on the other hand, has a half-life of 30 years and the bad news is, marine plants readily absorb it, which then cycling in food chain.

“It’s worrisome in that CS 137 is leaking, although the levels are still low,” said Paul G. Falkowski, a professor at Rutgers University’s Institute of Marine and Coastal Sciences.

Mr. Falkowski said that the deposited water finally reaches sea and if the water would be heavily contaminated with cesium 137 over an extended period then it surely would question of serious concern.

The source of cesium 137 is still not found, although it is believed that the seawater dumped on the overheating reactors to cool them carried radiation and then poured out to sea. The natural process of dilution of radioactive effluents by the ocean is extraordinary. Many radioactive effluents have been dumped into the marine environment, including nuclear weapons.

Only the good part is the remarkable capacity of ocean to dilute radioactive substance because of it volume and depth. Therefore, oceanographers have not put any panic button right now and said to take appropriation precaution to happen any serious consequences.

Japan's Leaked Nuclear Plant Radiation Traced In China

By ONE Liners Agency

JAPAN / CHINA NEWS - Nuclear radioactive iodine traces has been detected in Chinese Heilongilang province on Saturday, said China government agency to the state-run media.

According to the Chinese authorities, the radiation iodine level was a minuscule fraction, which is one-hundred-thousandth beyond the normal levels, and it has been emanated from the Fukushima Daiichi nuclear power plant of Japan.

The Chinese government agency has confirmed that such low level is not harmful to the public health and also said the people here do not required any extra precautions.

Earlier, such low levels radioactive iodine was also traced as far as United States and Sweden.

More to this, several nations are taking necessary steps in ensuring their citizens in Japan don't suffer due to the nuclear fall-out.

United States Embassy in Tokyo wrote on its website it would continue "to make potassium iodide tablets available to private U.S. citizens who have not been able to obtain it from their physician, employer or other sources."

Health officials said these medication can counter the radiation's harmful effects when it enters the body through contaminated water, air or other means.

Meanwhile, Japanese authorities are also distributing such pills to all close to the plant.