TOKYO -- Ten Japanese financial institutions including Sumitomo Mitsui Banking Corp. and Mizuho Bank are preparing to extend emergency loans totaling 400 billion yen ($3.01 billion) to Tokyo Electric Power Co. Holdings, as high fuel costs and a weak yen batter the country's utilities.
Energy
Japan's TEPCO to receive $3bn in emergency loans from top lenders
Sumitomo Mitsui and 9 others step in as high fuel prices and weak yen pummel utilities
A JERA power plant in Chiba prefecture. Financing demand among Japan's biggest utilities is seen potentially reaching trillions of yen by the summer. (Photo by Mizuho Miyazaki)
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