Takeo Hoshi and Ulrike Schaede Co-Author Wall Street Journal Article
Let Tepco Go Bankrupt, If It Must
04/19/2011
The Wall Street Journal
As the Japanese government struggles to control the nuclear crisis at the Fukushima Daiichi power plant, it also faces pressing financial questions: How will the utility that owns Fukushima, Tokyo Electric Power Co., finance the decommissioning of this plant and possibly others, and how will it compensate those affected by the crisis? Fearing huge uncertain costs, the shareholders and creditors of Tepco are jittery. Media reports suggest that Tokyo is considering rescuing Tepco to calm financial markets. But this would be the worst option. Instead Tepco should be allowed to face bankruptcy if necessary.
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Takeo Hoshi can provide commentary on Japan's financial system, bank regulation, macroeconomic conditions and macroeconomic policy.
Professor Schaede is an authority on Japanese business organization, strategy, and management. In addition to analyzing the recent shift away from diversification to focused, lean organizations among Japan's leading companies, Schaede's research also includes the newly emerging takeover market in Japan, venture capital and startups, as well as changing employment practices. Previous research has addressed regulation and government-business relationships in Japan; financial markets; corporate governance; welfare policies and small-sized companies in a changing Japan; and the role of trade associations and antitrust policy.
