Tepco Widens Full-Year Loss Forecast as Fukushima Costs Rise
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Tokyo Electric Power Co., which received an $8.9 billion lifeline from the Japanese government, widened its full-year loss forecast as compensation and clean-up costs rose after the Fukushima nuclear disaster.
The company known as Tepco expects to lose 695 billion yen ($8.9 billion) in the year to March 31, compared with a November estimate of 600 billion yen, it said in a statement today. The utility serving 29 million customers in and around Tokyo had posted a loss of 1.25 trillion yen in the previous fiscal year.