The Stock Ticker Notable Investors Are Holding

They may not be trading on public markets, but Pacaso just reserved the ticker PCSO. Co-founded by the man who took Zillow from seed to IPO, Pacaso brings co-ownership to a $1.3T market. They've earned $110M+ in gross profits already. Well-known firms like Maveron even invested.

Japanese court rejects damage claims against utility executives over Fukushima disaster

MARI YAMAGUCHI
June 06, 2025

TOKYO (AP) -- A Japanese court ruled former executives at the utility managing the tsunami-wrecked Fukushima Daiichi nuclear power plant were not accountable for the 2011 meltdown crisis and do not need to pay damages to the company.

The Tokyo High Court ruling on Friday reversed a lower court decision in 2022 ordering four former executives of the Tokyo Electric Power Company Holdings to pay 13 trillion yen ($90 billion) to the company, saying they had failed to take the utmost safety precautions despite knowing the risks of a serious accident in a major tsunami.

A magitude 9.0 earthquake and tsunami in March 2011 destroyed key cooling systems at the Fukushima Daiichi plant, causing its three reactors to melt down, spreading large amounts of radiation in the area and keeping tens of thousands of residents from returning home due to radioactive contamination and other safety concerns.

The Tokyo District Court ruling three years ago was the only ruling that held the former TEPCO liable for the Fukushima disaster. It upheld the plaintiffs' argument that the executives had neglected to heed experts' long-term tsunami predictions and failed to take adequate tsunami precaution measures soon enough.

The court said, however, the long-term tsunani prediction was not considered pressing data requiring immediate tsunami measures and it was understandable the executives had no sense of urgency from the data they had at that time, Kyodo News reported.

Friday's ruling is a major disappointment for Fukushima residents and anti-nuclear activists seeking the managements' responsibility in nuclear safety.

Plaintiffs and their lawyers criticized the ruling as "unjust" and said they planned to appeal to the Supreme Court.

Hiroyuki Kawai, a plaintiffs' lawyer, criticized the ruling as "logically flawed," saying it means nobody can be held liable for any safety negligence because tsunami and earthquake predictions are still impossible today.

A group of more than 40 TEPCO shareholders filed the lawsuit in 2012 demanding five former executives pay the company 22 trillion yen ($153 billion) in damages. The amount of the 2022 ruling against four of the executives was the highest ever ordered in a lawsuit.

Japan's top court in March found two former TEPCO executives not guilty of negligence over the Fukushima meltdowns, saying a tsunami of the magnitude that hit the plant was unforeseeable. It was the only criminal trial related to the nuclear accident and the only criminal case related to the nuclear accident.

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