09 Aug '11, 7am

Japan's nuclear utility TEPCO logs $7.4b quarterly loss

TOKYO: The operator of Japan's crippled Fukushima nuclear plant, Tokyo Electric Power Company (TEPCO), Tuesday reported a first-quarter loss of $7.4 billion over the radiation disaster. The world's worst nuclear accident since Chernobyl 25 years ago has forced tens of thousands of people to flee their homes and has heavily damaged regional farming, fisheries and tourism. TEPCO, long one of the world's biggest power companies, has also suffered large shortfalls in electricity output as the reactors at Fukushima Daiichi and other plants have stayed offline since the March 11 disaster. The company announced a net loss of 571.8 billion yen for the April-June period -- largely due to an extraordinary loss of 503 billion yen for compensation and other costs linked to the disaster. TEPCO has also run large-scale emergency operations at Fukushima. The company's operating loss reac...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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