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Business

Tepco needs M&A deals as Fukushima costs swell

Japan utility could even pursue overseas targets

TOKYO -- Tokyo Electric Power Co. Holdings will likely have no choice but to merge its power distribution and nuclear businesses with peers as the ballooning costs of the 2011 Fukushima disaster force it to take urgent action.

A document submitted by President Naomi Hirose to a government-convened panel on Friday repeatedly mentioned Tepco's plans to restructure and integrate its businesses. It even discussed potential mergers and acquisitions with foreign players. Hirose had not commented much on such matters in the past.

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