6 Jun 2011

TEPCO shares at new low

5:32 pm on 6 June 2011

Shares in the Tokyo Electronic Power Company dived 28% to a record low after a report that the operator of the Fukushima nuclear power plant would record a loss of $A6.61 billion for 2011.

TEPCO shares briefly fell briefly to an all-time low of 206 yen, down 80 yen from Friday, then recovered slightly.

The Kyodo News agency reported at the weekend that TEPCO expected to post a loss of 570 billion yen.

Kyodo said the reported loss excludes compensation to people affected by the ongoing crisis at the crippled nuclear power plant.