The Bloomberg news website just reported:
Tokyo Electric Power Co. will ask the government for 900 billion yen ($12 billion) to avoid bankruptcy, the Nikkei newspaper said, the first state support since the Fukushima nuclear disaster almost eight months ago.
Trade and Industry Minister Yukio Edano may sign off on a finance plan for the company known as Tepco as early as next week, the Nikkei said. Tepco will commit to cutting costs by 240 billion yen and raising as much as 400 billion yen from asset sales by the end of March, the paper said. Executives of the company at the center of the worst nuclear crisis since Chernobyl will agree on the plan today.