Tuesday, March 15, 2011

Japanese Black Swan update - Radiation fears spark panic buying, evacuations in Tokyo





Aerial view of reactor building damage at Fukushima Plant

(Reuters) - Panic swept Tokyo on Tuesday after a rise in radioactive levels around an earthquake-hit nuclear power plant north of the city, causing some to leave the capital and others to stock up on food and supplies.

Several embassies advised staff and citizens to leave affected areas, tourists cut short vacations and multinational companies either urged staff to leave or said they were considering plans to move outside Tokyo where low levels of radiation have been detected.

In one sign of the panic, Don Quixote, a multistory, 24-hour general store in Tokyo's Roppongi district, was sold out of radios, torches, candles, fuel cans and sleeping bags on Tuesday as a Reuters reported visited the shop.

Tourists such as Christy Niver, of Egan, Minnesota, said they had had enough and were leaving. Her 10-year-old daughter, Lucy, was more emphatic. "I'm scared. I'm so scared I would rather be in the eye of a tornado," she said. "I want to leave."

The Czech Symphony Orchestra left Tokyo by bus for Ishikawa prefecture on the west coast.

"Some of them wanted to go home after the earthquake but it's pretty much impossible to get tickets for a hundred people now," said Hitomi Sakuma, a friend of the orchestra who was seeing them off at a Tokyo hotel.

U.S. banking giant Citigroup said it was keeping workers in Tokyo informed but there were no evacuation orders, said a spokesman, adding the bank was closely following guidance by the U.S. Embassy, which has not urged nationals to leave.

Indian software services provider Zensar Technologies Ltd told its 55 employees they can send their families back to India, said chief executive Ganesh Natarajan.

"If the situation worsens then we will shift our Japan business to centers in Shanghai and Pune,"........read on

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