Japan govt. approves aid to N-plant co.

The Japanese government has agreed to help the operator of the temblor-ravaged Fukushima Daiichi nuclear power plant pay compensation to those inflicted by Japan's nuclear disaster. Japan's Economy, Trade and Industry Minister Yukio Edano met Tokyo Electric Power Co. (TEPCO) President Toshio Nishizawa on Friday, and accepted to give $11.5 billion to the cash-strapped company, Kyodo news agency reported. TEPCO promised to reduce operating costs by $3.5 billion for the current fiscal year in return for the funds. It will also slash its group workforce by 7,400 workers -- 14 percent of the total -- by March 2014. In addition, TEPCO will reduce pension benefits for both active workers and retirees, and maintain a 20-percent pay cut brought in after the Fukushima nuclear crisis. The Fukushima Daiichi plant has leaked radiation into air, soil and the Pacific Ocean ever since it was hit by a 9-magnitude earthquake and a devastating tsunami on March 11. The massive tremor triggered a nuclear crisis by knocking out power to the cooling systems and causing the reactor meltdowns at the nuclear power plant on Japan's northeast coast. The number of the dead and missing from Japan's March 11 quake and tsunami stands at over 28,000, according to the Japanese National Police Agency.