Tokyo Electric Power Company (TEPCO) Announces Annual Loss

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May 14, 2012, Tokyo, Japan – An outside view of the Tokyo Electric Power Company (TEPCO) headquarters. The operator of the crippled Fukushima Daiichi nuclear plant said its 781-billion-yen net loss came in a year in which it was hit with massive costs to deal with reactor meltdowns, as well as increased imports of fossil fuels to make up for a nuclear power shortfall. Revenue was 5.35 trillion yen, down from 5.37 trillion yen a year earlier. Naomi Hirose, who will replace Toshio Nishizawa, said warned that “unexpected situations” this summer could make its already shaky energy supply even tougher as Japan’s atomic reactors remain offline. (Photo by Natsuki Sakai/AFLO)

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Outgoing and incoming presidents of financially troubled TEPCO, take a deep bow at the end of a news conference at its head office in Tokyo, reporting a bigger-than-anticipated annual loss. (Photo by Natsuki Sakai/AFLO)