TEPCO to report 1.2 tril. yen net loss for FY 2010
May 20, 2011
Tokyo Electric Power Co. will declare a net loss of some 1.2 trillion yen for its business year ended March 31, as it books ballooning costs resulting from accidents at its radiation-leaking nuclear plant, sources said Friday.
The utility is scheduled to release an earnings report for the year later Friday as well as a restructuring plan.
As part of an extraordinary loss, the company will book expenses such as spending to restore its thermal power plants which were damaged by the March 11 mega earthquake and tsunami waves.
TEPCO is set to scrap four crippled reactors at the stricken Fukushima Daiichi complex.
Compensation payments for those affected by the accidents at Fukushima plant will be also included in the extraordinary loss, the sources said.
(Distributed by Kyodo News on May 20, 2011)
The utility is scheduled to release an earnings report for the year later Friday as well as a restructuring plan.
As part of an extraordinary loss, the company will book expenses such as spending to restore its thermal power plants which were damaged by the March 11 mega earthquake and tsunami waves.
TEPCO is set to scrap four crippled reactors at the stricken Fukushima Daiichi complex.
Compensation payments for those affected by the accidents at Fukushima plant will be also included in the extraordinary loss, the sources said.
(Distributed by Kyodo News on May 20, 2011)
