The Japanese utility Tokyo Electric Power (TEPCO) reported on Friday 20 May, a record net loss of 11 billion euros for the fiscal year in March curly. At the Tokyo Stock Exchange, the action group has collapsed by 83% since March 11, the day the Japanese earthquake and the nuclear accident in Fukushima.
Growing numbers catastrophic Tepco to replace his current boss, strongly criticized his handling of the crisis. At the end of the year April 2010 to March 2011, the company TEPCO has posted a net deficit of 1 247 350 000 000 yen (10.9 billion euros), more than 9 billion euros provided by the Japanese press.
A loss that is the worst deficit recorded by a Japanese non-financial group. Before March 11, Tepco yet foresaw a net profit of one billion euros. The company was forced to take into account the massive writedowns resulting from the abrupt and final at least four of six reactors at Fukushima, undermined by the terrible earthquake and tsunami of 11 giant March.
It also decided to suspend the construction of reactors No. 7 and No. 8. Unable to make financial forecasts for the coming months, Tepco opens a chapter of its history very uncertain. In early May, the company has already requested assistance from the Japanese government, assessing immediate needs 8.7 billion euros.
In response, the Japanese government announced a support plan that TEPCO is now under public control to ensure compensation for victims. Tepco should indeed help financially to 85 000 victims of the nuclear accident. A bill that could total between 25 and 43 billion euros, according to Japanese press.
The financing plan for Tokyo also makes provision for drastic Tepco, which will include transfer of financial assets and properties in order to concentrate its resources on the production and distribution of electricity. In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary employees, will undergo substantial pay cuts. 
Growing numbers catastrophic Tepco to replace his current boss, strongly criticized his handling of the crisis. At the end of the year April 2010 to March 2011, the company TEPCO has posted a net deficit of 1 247 350 000 000 yen (10.9 billion euros), more than 9 billion euros provided by the Japanese press.
A loss that is the worst deficit recorded by a Japanese non-financial group. Before March 11, Tepco yet foresaw a net profit of one billion euros. The company was forced to take into account the massive writedowns resulting from the abrupt and final at least four of six reactors at Fukushima, undermined by the terrible earthquake and tsunami of 11 giant March.
It also decided to suspend the construction of reactors No. 7 and No. 8. Unable to make financial forecasts for the coming months, Tepco opens a chapter of its history very uncertain. In early May, the company has already requested assistance from the Japanese government, assessing immediate needs 8.7 billion euros.
In response, the Japanese government announced a support plan that TEPCO is now under public control to ensure compensation for victims. Tepco should indeed help financially to 85 000 victims of the nuclear accident. A bill that could total between 25 and 43 billion euros, according to Japanese press.
The financing plan for Tokyo also makes provision for drastic Tepco, which will include transfer of financial assets and properties in order to concentrate its resources on the production and distribution of electricity. In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary employees, will undergo substantial pay cuts.
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