Tepco reports a $7.4bn loss

Last Updated on Tuesday, 09 August 2011 17:27 Tuesday, 09 August 2011 17:26

Written by China Times

0 Comments

Tokyo Electric Power(Tepco), the owner of the Fukushima nuclear plant exploded due to the disastrous earthquake and tsunami in March, has reported a quarterly loss of 571.8bn yen ($7.4bn).

Due to the explosions, 80,000 people are forced to be evacuated from the nearby places around the power plant, therefore, Tepco have to provide a compensation of around 400bn for the victims.

The company did not make any forecast for the following period because there was still too much uncertainty over the ongoing crisis.

The disaster had a severe impact on Japanese industries and left farm products contaminated, for which Tepco also has to pay a compensation of around 130bn.

Last week, a plan was approved by the parliament to help the company compensate victims of the disaster by financial contributions from taxpayers and other utilities.