Tokyo Elec soars after Japan approves additional support

Reuters News
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Posted: Feb 12, 2012 10:53 PM
Tokyo Elec soars after Japan approves additional support

TOKYO (Reuters) - Shares of Tokyo Electric Power Co soared 7.5 percent on Monday after Trade Minister Yukio Edano approved nearly $9 billion in additional support to help the utility compensate victims of the Fukushima nuclear crisis.

The company's Fukushima Daiichi plant was crippled by an earthquake and tsunami last March, swamping Tokyo Electric with massive compensation and cleanup costs.

(Reporting by Dominic Lau; Editing by Joseph Radford)