• ¥1.5 trillion yearly loss possible thanks to Fukushima source

• » That’s $18 billion dollars, guys: While many parts of Japan struggle to recover from March’s earthquake, TEPCO’s financial loss — part of the reason the company’s president, Masataka Shimizum, likely plans to step down —would be downright dramatic. When it announces earnings today, the loss could be absolutely insane. But it wouldn’t be a record. That dubious honor goes to Mizuho Financial Group, which lost ¥2.38 trillion ($20.3 billion) in a single fiscal year back in 2003. Meanwhile, TEPCO struggles with power outages, a nuclear meltdown, and huge radiation-related claims that could top ¥11 trillion ($134 billion). These factors combined — which won’t be one-time payments — may force Japan to take the power company over.

• 9 months maximum needed to get Fukushima under control source

• » That number isn’t changing: While they’ve discovered more damage than they originally anticipated — such as damage to fuel reactors — and are still dealing with meltdowns. Despite these discouraging discoveries, officials are sticking to this timetable, saying that the reactors are continuing to cool despite the more extensive damage. “The point [Japanese Prime Minister Naoto] Kan is making is that the reactor cores are being cooled down despite the apparent meltdown,” said Goshi Hosono, the prime minister’s special adviser on the issue.

• Things were so dangerous after a blast at Fukushima Daiichi reactor No. 1 that workers didn’t enter the building at all afterwards. Until today. Nearly two months after the hydrogen explosion that greatly damaged the plant on March 11th, NHK reports that workers re-entered the building housing the reactor for the first time since the initial blast. The workers plan to install an air purifier in the plant, reportedly “aimed at preventing workers from suffering internal radiation exposure when they work on setting up a new cooling system at the No. 1 reactor.” That must be a really good air purifier. (Above: A pic of a robot working in the plant, via TEPCO) source

• Japan has some pretty hefty rebuilding plans: With a month and a half of distance between the earthquake and tsunami that ravaged a large chunk of the country, and a need to ensure a next step for the recovering nation, Japan’s government, led by Prime Minister Naoto Kan (left), has a large-scale recovery plan in its sights, which includes the building of 100,000 temporary homes. A huge catalyst for the move, according to the prime minister, was a recent meeting he had with people stuck in shelters. “I felt with renewed determination that we must do our best to get them back as soon as possible,” he said. More details:

The cost & the overall need

• $48.5 billion in emergency spending earmarked

• 14k people confirmed dead after last month’s quake
• 13k people missing in the quake or tsunami
• 130k people still live in evacuation centers source

• » Japan has recovered before: Back in 1923, Japan suffered a far more substancial economic and physical disaster from Great Kanto Earthquake, which killed as many as 140,000 and caused the country to lose 40 percent of GDP. The current earthquake, likely the most expensive in the country’s history at $300 billion, is a mere fraction of that in comparative scale.

The situation around Fukushima

• 12 miles the radius of the evacuation zone around Fukushima — residents could face fines or jail if they enter
• 19 miles the radius around Fukushima where the government recommends residents leave source

• » Letting residents come back: While authorities let some residents return to their homes for a brief period yesterday (a mere two-hour window, by the way), they may not have another chance. MSNBC has photos from the pretty freaky scene. “I’m sorry there’s nothing I can do for you,” said dairy farmer Hiroaki Hiruta, who had to leave his 130 cows to fend for themselves within the radiation zone. He had visited to feed them every single day, but no longer can due to the newly-enforced regulations. It’s unclear if there will be a next time for Hiruta to visit his cows, or if that “next time” will come anytime in the near-future. (photo by DVIDS on Flickr)

• 12 miles away from Fukushima? Don’t get any closer source

• » The penalties: People who violate this rule could face a fine of up to ¥100,000 (roughly $1,220) or 30 days in jail. On top of the possibility that you might get affected by radiation. (EDIT: This post was edited to remove a two-second quip that probably requires a post of its own.)

• Examining doctor Takeshi Tanigawa says the workers could risk death. The doctor, who checked the beleaguered workers recently, has said the personal responsibility they feel to halt the crisis, along with terrible sanitation, little food, little sleep, and pressure from their families not to continue is causing extreme levels of stress, and could lead to depression or death from overwork. That’s all without mentioning the high level of radiation, which is extremely deleterious to health on its own. Tanigawa says TEPCO should mobilize all their employees and give these most dedicated workers a break: “Employees engaged in the dangerous work have human rights and wives and children just like others. We should not treat their lives without due respect.” source

• 70% of those polled think Naoto Kan should step down source

• » A revolving door: Were Naoto Kan to step down, he’d be the fifth prime minister in a row to step down or lose an election after a year or less on the job. From Shinzō Abe to Yasuo Fukuda to Taro Aso and Yukio Hatoyama, the job has not proven a stable one. And Kan is nearing his one-year mark in the position. But none of his recent predecessors had to deal with a crisis nearly as crazy as the double-teaming of Fukushima and the Sendai quake.

• 50k the number of households near Fukushima eligible for payments from TEPCO
• ¥1M the amount that could be offered to each household — roughy $12,000 total
• ¥50B the amount that would be offered based on that assessment —around $600 million source

• » Raising money by cutting jobs? While Company President Masataka Shimizu didn’t speculate on what the final amount might be, he did point out a possible way to pay for said payments to local residents. They’re looking at cutting jobs to streamline operations and pay the people affected by the accident. “We must pursue rationalization that regards nothing as sacred,” he said. “We will make utmost efforts to raise funds.” Now, maybe we’re wrong here, but doesn’t it seem weird to cut employees after a massive disaster that had at least some root in safety issues?

• Fukushima was not as bad as Chernobyl. If Fukushima is a level 7 accident, maybe we need to go back and recalibrate the scale and add a level 8 or 9.
• University of Southern California Prof. Najmedin Meshkati • Expressing frustration that Fukushima was rated on the same level as Chernobyl, a 7 on the nuclear accident scale. Japan’s own Nuclear and Industrial Safety Agency says it’s only 10 percent as bad as Chernobyl. On top of that, nobody has died from the post-quakeaccident and 21 workers have gotten minor illnesses from radiation. At Chernobyl, a number of people died — dozens immediately and many more from cancer years later. If we’re somehow putting Chernobyl on the same level as Fukushima, something’s wrong about the levels.  source