TEPCO Announces Huge Loss

Managing Director Toshio Nishizawa of Tokyo Electric Power Co. speaks during a news conference at its head office in Tokyo on Friday, May 20, 2011. President Masataka Shimizu announced his resignation during the news conference, saying he will step down to take responsibility for damaging the public’s trust and causing inconvenience. Nishizawa will replace Shimizu. (Photo by Natsuki Sakai/AFLO)