TOKYO, April 26 Takaoka Electric MFG Co
and Toko Electric Corp, two companies affiliated with
Tokyo Electric Power Co, will merge their businesses
under a new holding company around October, the Nikkei business
daily reported on Thursday.
The move comes as Tepco, reeling from the crisis at its
Fukushima Daiichi nuclear plant, is looking to reduce the amount
it pays for power and services from the firms, the paper said.
Tepco owns 29 percent of Takaoka and 45 percent of Toko.
Both companies declined to comment on the matter.