here . it is not to be confused with pepco . tokyo electric power company inc. type public kk traded as tyo 9501 ose 9501 nse 9501 industry electric utility predecessor the tokyo electric light company inc. founded in 1883 founded tokyo japan may 1 1951 1951 05 01 headquarters chiyoda tokyo japan area served tokyo kanagawa saitama chiba tochigi gunma ibaraki yamanashi and east shizuoka key people fumio sudo chairman naomi hirose president services electric generation transmission and distribution revenue 6 802.5 billion 2015 1 operating income 316.5 billion 2015 1 net income 451.6 billion 2015 1 total assets 14 212.7 billion 2015 1 total equity 2 073 billion 2015 1 owner nuclear damage compensation and decommissioning facilitation corporation 50.11 % tokyo metropolitan government 1.34 % employees shareholding association 1.20 % sumitomo mitsui banking corporation 1.13 % the dai ichi life insurance co. ltd. 1.11 % number of employees 38 671 2010 website www.tepco.co.jp the tepco head office tokyo electric power company inc. t ky denryoku kabushiki gaisha tyo 9501 also known as toden t den or tepco is a japanese electric utility servicing japan s kant region yamanashi prefecture and the eastern portion of shizuoka prefecture . this area includes tokyo . its headquarters are located in uchisaiwaicho chiyoda tokyo and international branch offices exist in washington d.c. and london . it is a founding member of strategic consortiums related to energy innovation and research ; such as jined 2 incj 3 and mai . 4 in 2007 tepco was forced to shut the kashiwazaki kariwa nuclear power plant after the niigata chuetsu oki earthquake . that year it posted its first loss in 28 years . 5 corporate losses continued until the plant reopened in 2009 . 6 following the march 2011 t hoku earthquake and tsunami its power plant at fukushima daiichi was the site of one of the world s most serious continuing nuclear disaster . tepco could face 2 trillion 23.6 billion in special losses in the current business year to march 2012 7 and the japanese government plans to put tepco under effective state control to guarantee compensation payments to the people affected by the accident . 8 the fukushima disaster displaced 50 000 households in the evacuation zone because of leaks of radioactive materials into the air soil and sea . 9 in july 2012 tepco received 1 trillion from the japanese government . 10 tepco s management subsequently made a proposal to its shareholders for the company to be part nationalized . 11 the total cost of the disaster was estimated at 100bn in may 2012 . 10 contents 1 history 2 corporate overview 2.1 community compensation 3 salary pay cuts 4 sale of hospital 5 power stations and generation capacity 5.1 position in the industry 5.2 management and finance 5.3 generation 5.4 transmission and distribution 6 corporate image 6.1 safety incidents 6.2 2008 shutdown 6.3 nuclear accidents 6.3.1 company future 7 offices 8 power plants 8.1 nuclear 8.2 fossil fuel 8.3 hydro 9 electric vehicle batteries and recharging 10 the city of tokyo second largest shareholder 11 tepco to cancel nuclear promotion abroad 12 see also 13 references 14 external links history edit japan s nine electric companies including tepco were established in 1951 with the end of the state run electric industry regime for national wartime mobilization . 12 13 in the 1950s the company s primary goal was to facilitate a rapid recovery from the infrastructure devastation of world war ii . after the recovery period the company had to expand its supply capacity to catch up with the country s rapid economic growth by developing fossil fuel power plants and a more efficient transmission network . in the 1960s and 1970s the company faced the challenges of increased environmental pollution and oil shocks . tepco began addressing environmental concerns through expansion of its lng fueled power plant network as well as greater reliance on a deal with the devil nuclear generation . the first nuclear unit at the fukushima dai ichi fukushima i nuclear power plant began operational generation on march 26 1971 . during the 1980s and 1990s the widespread use of air conditioners and it oa appliances resulted a gap between day and night electricity demand . in order to reduce surplus generation capacity and increase capacity utilization tepco developed pumped storage hydroelectric power plants and promoted thermal storage units . recently tepco is expected to play a key role in achieving japan s targets for reduced carbon dioxide emissions under the kyoto protocol . it also faces difficulties related to the trend towards deregulation in japan s electric industry as well as low power demand growth . in light of these circumstances tepco launched an extensive sales promotion campaign called switch promoting all electric housing in order to both achieve the more efficient use of its generation capacity as well as erode the market share of gas companies . corporate overview edit capital stock 676 424 197 050 total outstanding shares 1 352 876 531 number of shareholders 821 841 electricity sales fy 2004 92 592 million kwh lighting 194 148 million kwh power 286 741 million kwh total peak demand 64.3 million kw july 24 2001 number of customers ending march 31 2005 25 120 000 83.89 million kw lighting 2 630 000 thousand 39.75 million kwh power 27 740 000 123 .64 million kw total revenue from electricity sales 4 637.2 billion yen fy 2004 community compensation edit tokyo electric power could face 2 trillion yen 23.6 bln in special losses in the current business year to march 2012 to compensate communities near its crippled fukushima nuclear plant according to jp morgan . 7 japan plans to put tepco under effective state control so it can meet its compensation payments to people affected by radiation from its fukushima i plant . tokyo will set aside several trillion yen in public funds that tepco can dip into if it runs short for payouts to people affected . 8 salary pay cuts edit the company workers agreed to a management proposal to cut their pay as a sense of responsibility for the world s worst nuclear disaster . annual remuneration for board members will be reduced by 50 percent since april 2011 while payment for managers will be cut by 25 percent and workers by 20 percent both since july 2011 and bonuses since june 2011 . the company expects to save about 54 billion yen 659 million a year from the pay cuts . 14 15 in july 2012 it was announced that annual salaries of managers will be reduced by at least 30 % with workers pay cut remaining at 20 % . on average employees pay would be cut by 23.68 % . in addition the portion of the employee health insurance program that the company covers will be reduced from 60 % to 50 % the standard in japan . 16 sale of hospital edit in was announced in july 2012 that the company would sell the hospital it owns in shinjuku ward in tokyo . the hospital is used exclusively by current and former tepco employees and their families . its market value is 8.6 billion . 17 power stations and generation capacity edit hydro 160 8 521.0 mw thermal oil coal ln p g geothermal 26 36 995.0 mw nuclear 3 17 308.0 mw wind 1 1.0 mw total 190 62 825.0 mw position in the industry edit tepco is the largest electric utility in japan and the 4th largest electric utility in the world after german rwe french lectricit de france and germany s e.on . as tepco stands in a leading position in this industry they have relatively a strong effect for japanese economics environment and energy industry . management and finance edit for the fiscal years ending in 2011 2012 the company had a pretax loss in 2013 the deficit was 377.6 billion yen . in the following year 2014 red figures were expected too . 18 generation edit the company s power generation consists of two main networks . fossil fuel power plants around tokyo bay are used for peak load supply and nuclear reactors in fukushima and niigata prefecture provide base load supply . additionally hydroelectric plants in the mountainous areas outside the kanto plain despite their relatively small capacity compared to fossil fuel and nuclear generation remain important in providing peak load supply . the company also purchases electricity from other regional or wholesale electric power companies like tohoku electric power company j power and japan atomic power company . transmission and distribution edit the company has built a radiated and circular grid between power plants and urban industrial demand areas . each transmission line is designed to transmit electricity at high voltage 66 500kv between power plants and substations . normally transmission lines are strung between towers but within the tokyo metropolitan area high voltage lines are located underground . from substations electricity is transmitted via the distribution grid at low voltage 22 66kv . for high voltage supply to large buildings and factories distribution lines are directly connected to customers electricity systems . in this case customers must purchase and set up transformers and other equipment to run electric appliances . for low voltage supply to houses and small shops distribution lines are first connected to the company s transformers seen on utility poles and utility boxes converted to 100 200v and finally connected to end users . under normal conditions tepco s transmission and distribution infrastructure is notable as one of the most reliable electricity networks in the world . blackout frequency and average recovery time compares favorably with other electric companies in japan as well as within other developed countries . the company instituted its first ever rolling blackouts 19 following the shutdown of the fukushima i and ii plants which were close to the epicenter of the march 2011 earthquake . 20 for example on the morning of tuesday march 15 2011 700 000 households had no power for three hours . 21 the company had to deal with a 10 million kw gap between demand and production on march 14 2011 . play media video three tepco aerial work platform trucks work together on utility poles upgrading overhead power lines in tokyo japan . corporate image edit safety incidents edit on august 29 2002 the government of japan revealed that tepco was guilty of false reporting in routine governmental inspection of its nuclear plants and systematic concealment of plant safety incidents . all seventeen of its boiling water reactors were shut down for inspection as a result . tepco s chairman hiroshi araki president nobuya minami vice president toshiaki enomoto as well as the advisers sh nasu and gaishi hiraiwa stepped down by september 30 2002 . 22 the utility eventually admitted to two hundred occasions over more than two decades between 1977 and 2002 involving the submission of false technical data to authorities . 23 upon taking over leadership responsibilities tepco s new president issued a public commitment that the company would take all the countermeasures necessary to prevent fraud and restore the nation s confidence . by the end of 2005 generation at suspended plants had been restarted with government approval . in 2007 however the company announced to the public that an internal investigation had revealed a large number of unreported incidents . these included an unexpected unit criticality in 1978 and additional systematic false reporting which had not been uncovered during the 2002 inquiry . along with scandals at other japanese electric companies this failure to ensure corporate compliance resulted in strong public criticism of japan s electric power industry and the nation s nuclear energy policy . again the company made no effort to identify those responsible . 2008 shutdown edit in 2008 tokyo electric forced to shut the kashiwazaki kariwa nuclear power plant after an earthquake posted its first loss