Japan- TEPCO posts USD3.68b net loss in Q2 

(MENAFN) Tokyo Electric Power Co. (TEPCO) announced that during the second quarter, the company incurred a USD3.68 billion net loss, down from a USD7.31 billion loss in 2011's same period, reported Xinhua News.

The company said that for the entire fiscal year through March 2013, it expects to post a net loss of USD2.04 billion, with an operating loss off USD3.90 billion.

TEPCO stated that revenue for the whole fiscal year is forecasted to reach USD76 billion.

It is worth noting that over 50 percent of TEPCO was acquired by the government for USD12 billion, the move will prevent the firm's bankruptcy and help it pay compensation for people who were affected by last year's nuclear disaster, get rid of the crippled reactors and resume ensuring stable electricity supply.