Japan Utilities Limit Losses on Higher Rates, Fuel Cost Cuts
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Japan’s nuclear utilities narrowed losses after raising power prices, a nascent sign of recovery in an industry trying to show regulators their reactors are safe.
Tokyo Electric Power Co., the operator of the wrecked Fukushima Dai-Ichi nuclear reactor, posted a smaller operating loss in the fiscal first quarter, as did Kansai Electric Power Co. The two companies, which serve 42.3 million people in Japan, cut operating losses by a combined 198.03 billion yen ($2.03 billion), according to earnings statements yesterday.