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Message Subject *** Fukushima *** and other nuclear-----updates and links
Poster Handle Anonymous Coward
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TEPCO slashes loss forecast after cost-cutting and asset sales
TOKYO — TEPCO, the operator of Japan’s crippled Fukushima nuclear plant, on Wednesday dramatically slashed its fiscal-year loss projection, citing asset sales and cost-cutting for the change.

The utility said it now expects to lose 45 billion yen this year instead of the 160 billion yen initially forecast, although it still faces huge post-disaster compensation costs and higher power generation expenses, despite a government bailout and a price hike.

It also said its losses narrowed to 299.48 billion yen for the six months to September, compared with 627.3 billion yen in the same period of 2011.

The company was effectively nationalised after receiving 1 trillion yen of taxpayer money to stay in business this year as it struggled to survive after the meltdown at its Fukushima Daiichi plant that followed the quake-tsunami disaster on March 11, 2011.
[link to www.japantoday.com]
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