Asia’s biggest utility, Tepco or Tokyo Electric Power Co., plummeted the most in nearly two years after the report published by Nikkei newspaper stating that the company will possibly sell in the tune of six hundred billion yen worth of 600 billion yen worth of new stock.

On the Tokyo Stock Exchange the shares of the firm saw a fall of seven decimal five percent reaching two thousand one hundred and ten yen at around thirty one minutes past twelve and incurred its biggest loss since 10 October 2008.

The Topix Electric Power and Gas index saw a downslide of two decimal seven percent but the benchmark Nikkei 225 share average saw a rise of zero decimal eight percent. 

Nikkei said without pointing out any one that the Japanese energy firm will invest the money for setting up nuclear power factories and for its expansion abroad. 

Tomohiro Jikihara an analyst at Deutsche Bank of Tokyo stated that Tokyo Electric does not require raising money on such a massive scale by selling stocks. The company has excellent credit ratings and can easily raise money needed for funding projects. 

Tokyo Electric has plans for investing an amount of three decimal five trillion yen in low-carbon technologies by the year of 2020. It will do so for meeting up its domestic as well as overseas demand of cleaner power production. 

The ten year plan taken up by the firm might help Japan to meet its ambition of increasing its economic growth by exporting advance generation technologies to developing countries in the form of smart grids and nuclear reactors. 

The company more familiar by the name Tepco stated in filing to the Tokyo Stock Exchange that the firm always welcomes apt capital policies but it has nothing up its sleeve to announce at this point in time.