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Date: 7/1/2012
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Title: TEPCO shareholders approve Japan state bailout
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Description: Shareholders of the Tokyo Electric Power Company have approved a 10-year turnaround plan that effectively puts the utility company under state control. The plan will give the Japanese government 50 percent of voting rights, in return for a capital injection of 1 trillion yen in public funds. At the same time, the company is also committed to slashing costs by 3.65 trillion yen over the next 10 years.
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