Tepco dips on state control fears

Japan's industrial production fell in November, pulled down by a strong yen and weak global demand, and after flooding in Thailand damaged many suppliers.Production fell 4% in November from the same month a year earlier, the Ministry of Economy, Trade and Industry said. It was 2.6% lower than in October.Japan is one of the world's biggest exporters.However, weak demand saw it cut growth forecasts for this year and the next.Last week, the government said Japan's economy will shrink by 0.1% in the year to the end of March, down from a previous forecast of 0.5% growth.The government also said that in the 2012 fiscal year growth would be 2.2%, down from its earlier target of as much as 2.9%.Japan has been hit by a number of issues that are hurting expansion.Thailand's worst flooding in 70 years closed a number of Japanese companies and their suppliers.At the same time, the yen has hit levels that exporters say make their goods uncompetitive and too expensive for foreign buyers.And finally, the continuing economic problems in the eurozone were identified by the Bank of Japan Governor Masaaki Shirakawa last week as being a continuing threat to the country's economy.