Mark Willacy reported this story on Wednesday, June 27, 2012 18:30:00

MARK COLVIN: Directors and auditors at TEPCO - the Japanese operator of the Fukushima nuclear plant - have used the company's annual general meeting today to resign. In theory, they're doing so to take responsibility for last year's disaster. But the ABC can confirm that nearly half of those who resigned will take up lucrative posts with other TEPCO group companies.



Some of the executives are also facing the biggest lawsuit in Japanese history - a $67 billion compensation claim from shareholders for what they describe as unforgivable negligence.



Our correspondent Mark Willacy was at today's TEPCO meeting in Tokyo.



(Sounds of speaker addressing a protest)



MARK WILLACY: It's not a football field, but a footpath; although there is a scrum of TEPCO shareholders, anti-nuclear activists, and Japanese police forming there. But by western standards it's a polite affair - no pushing, no shoving, certainly no raised voices.



Still TEPCO shareholders meetings never used to be like this. Then again, TEPCO shareholders like Taro Shisido never had to flee their homes because of a nuclear meltdown.



"I feel TEPCO has deceived me," says Mr Shisido, who was a resident of Namie just a few kilometres from the Fukushima nuclear plant. "I have been an evacuee for more than 15 months," he says. "The only things living in my house in Fukushima now are rats," he adds, before filing into the shareholders meeting.



(woman speaking over loud speaker)



MARK WILLACY: Outside, activists - most of them middle-aged women - hand out anti-nuclear leaflets to shareholders making their way in. Among them is Yui Kimura.



She bought TEPCO shares so she could attend and vote at meetings and now she's one of 42 shareholders suing company directors for failing to heed repeated warnings about the threat of a giant tsunami.



"TEPCO executives who operate dangerous nuclear plants should take responsibility if there's an accident," Yui Kimura tells me. "So we are demanding these TEPCO executives pay compensation of $67 billion," she says.



That is the biggest claim of its kind in Japanese history, with the plaintiffs arguing these 27 directors should be liable for compensation for those affected by the nuclear meltdowns.



So how is TEPCO planning to defend itself against this lawsuit?



"I'm sorry that's a subjective question," says TEPCO spokesman Yoshimi Hitosugi. "I'm very sorry but I have to refrain from commenting on court issues. I hope you understand," he tells me.



One of the items on today's agenda, the resignation of 20 TEPCO directors and auditors, ostensibly to take responsibility for the disaster. But in fine Japanese corporate tradition, before they jumped, half of them strapped on what's called a golden parachute, landing lucrative positions in other major firms, including some of TEPCO's own group companies.



"This is unforgivable", says anti-nuclear activist and TEPCO shareholder Yui Kimura. "They're acting as if there was no accident. They should not take these golden parachutes" she tells me.



So it's an easy landing for some but certainly not for the 100,000 Fukushima residents who still can't return home.



This is Mark Willacy in Tokyo for PM.