The Tokyo Electric Power (TEPCO), which has been in uneasy spotlight since the quake-triggered nuclear crisis unfolded in Japan, has decided to scrap its four damaged nuclear reactors at the Fukushima power plant.

TEPCO took the call on Wednesday, more than three weeks after the disaster reared its head, and even as reports said the radioactive contamination in sea water around the stricken plant in Fukushima soared to levels 3,300 times higher than legal limits.

According to TEPCO's latest decision, reactors 1,2,3 and 4 will be scrapped.

Meanwhile, reports said TEPCO president Masataka Shimizu has been hospitalized as the crisis took a toll on his health. ABC News reported he was hospitalized with high blood pressure and dizziness. Mr Shimizu fell ill during the Fukushima nuclear crisis and took several days off from the joint taskforce set up by the company and the government.