business

TEPCO books Y438.65 billion net profit

32 Comments

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© 2014 AFP

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Wow..... just wow. I'm speechless.

10 ( +10 / -0 )

Shouldn't they be paying back the government loans and what about compensation to those affected? There should be no net profit, only pay back. It's funny, I recently watched a Japanese broadcaster remark that now was a turning point in Korea due to the ferry accident. Japan had a turning point after 3.11 as well, but just went right back to business as usual and even put the LDP back in power, the very same folks who fostered the nuclear environment. Who cares, we got the Olympics eh?

14 ( +16 / -2 )

So. Most people believe that TEPCO shouldnt get a cent. But they should get their reveneue. Why not?. Theyre handling fukushima. Not perfectly. But they are doing it. Its a disaster zone full of radiation. Nobody with a mililiterof brain would work in that plant

-16 ( +1 / -17 )

Wow..... just wow. I'm speechless.

Howard...I'm not. I think the word is disgraceful. Thousands and thousands of victims of decades of TEPCO mis-management, which continues today, are suffering. And this company has the arrogance to make a profit -- on the backs of those folks, funded by taxpayers' money. Japan Inc, as I have said many times, has no soul.

8 ( +12 / -4 )

They made a profit!

So they've paid back all the loans?

Amazing!

1 ( +2 / -1 )

The article forgot to say how tepco was going to distribute the profits to the people of Fukushima???????????????

Oh wait silly me, THIS IS JAPAN!............... And she aint looking very nice today, sigh!

Disgusting.

9 ( +10 / -1 )

In the other JT article it's been noted that the towns people who decide to move back into their houses in the the current but soon to be "cleared" radiation zone would lose their 100,000 a month stipend.

438.65 billion yen profit - It seems to me that TEPCO has more than enough money to partially atone for the horrible situation they created.

This company and this whole situation makes me sick.

7 ( +7 / -0 )

Its good that they're making a profit because with this money they can continue the cleanup.

People want to complain that this is an example of corporate greed, but if TEPCO was hemorrhaging cash and close to bankruptcy then the situation would get indescribably worse for the cleanup at Fukushima and the residents themselves.

-8 ( +1 / -9 )

WTF!!! TEPCO should not be allowed to make a profit! Pay us back! Help the thousands of people you have displaced because of your incompetence! You cannot pocket that money. ITS NOT YOURS TO KEEP!

10 ( +11 / -1 )

Shouldn't they be paying back the government loans and what about compensation to those affected?

No. It's nuclear power. Fantasy world.

2 ( +2 / -0 )

And I'm paying an extra tax for Fukushima clean up.

4 ( +5 / -1 )

TEPCO should be forced to buy the contaminated properties from the home owners who were displaced. It only makes sense. If I will were to break someone's property to the point where its unusable, I would be responsible for repairing or replacing it. Why isn't TEPCO being held to the same standards?

11 ( +11 / -0 )

rate hike to help cover for TEPCO's reckless behavior. no penalties despite their incompetence, stupidity, greed and spineless behavior. TEPCO executives stuff their pockets and the people of Fukushima continue to suffer. TEPCO is an LDP assisted disease and disgrace

10 ( +10 / -0 )

At this rate they'll pay off the disaster costs in... 50 years!!!!

2 ( +2 / -0 )

Cash Cow TEPCO needs to relabel profits as working capital ...... No profits to line pockets with..... Daiichi Reactor Units 2 and 3 have needed temporary sarcophagi for Years....

0 ( +0 / -0 )

Tepco only cares about the 1000? or so shareholders.... I don't think they have to pay back the bail outs because Tepco is now majority government owned, so F-ing wrong.

Tepco needs to reduce the 10% they put on all bills!

4 ( +6 / -2 )

People want to complain that this is an example of corporate greed, but if TEPCO was hemorrhaging cash and close to bankruptcy then the situation would get indescribably worse for the cleanup at Fukushima and the residents themselves.

MGigante -- nonsense. TEPCO should have been nationalized at least two years ago, when the full nature of this disaster, and TEPCO's ineptitute, was fully known. It is taxpayer money that is funding TEPCO -- either in electricity costs or bail-out funds -- so it should be the government that is calling the shots, not a company trying to make a profit.

2 ( +6 / -4 )

MGiganteMay. 01, 2014 - 07:37AM JST Its good that they're making a profit because with this money they can continue the cleanup. People want to complain that this is an example of corporate greed, but if TEPCO was hemorrhaging cash and close to bankruptcy then the situation would get indescribably worse for the cleanup at Fukushima and the residents themselves.

The Fukushima residents are still waiting on their compensation from TEPCO. The cleanup has been characterised by endless mistakes, corruption involving underpaying and generally ripping off the workers, and cheap low-quality equipment being used (e.g. rusting water containers), and the sort of corner-cutting that created this disaster in the first place.

Does TEPCO deserve to make a profit? Only if it puts people's safety first and profit second. That doesn't seem to be happening, its is just more of the same short-sighted profiteering.

1 ( +3 / -2 )

W-T- - - They increased electricity bills and now they claim they have profit in billions? meanwhile pushing whole Japan to recession and increase in tax ??? WT* TEPCO!

6 ( +6 / -0 )

So, now they can finally pay the compensation money to the hundreds, or thousands, that still haven't received it? Oh no, wait... the money will go into the pockets of the execs, and that's all. It's almost like the company is bragging.

4 ( +5 / -1 )

Just the headline makes me feel sick...

5 ( +5 / -0 )

So, a company that cries poor, gets billions of yen from the government and increased its prices is boasting about turning over a profit? Are you serious??? Every time I pay my TEPCO bill it's with a snarl and leaves a bitter taste in my mouth.

I WANT MY MONEY BACK!!!!

5 ( +6 / -1 )

Lowdown Eggsuckers! Unleash the yaks on them,blood for blood!

-3 ( +0 / -3 )

The fatcats are very happy.

2 ( +2 / -0 )

Gawd. I remember when Japan actually tried pretend its form of capitalism was less rapacious than America's...

0 ( +0 / -0 )

Here's a newsflash...there is no real effort to decommission nuclear plants...why? Deep rooted nepotism between energy and government sectors. No real change will ever happen with this administration. Not unless it lines there pocket books.

1 ( +1 / -0 )

What a disgusting vile situation, it's a pool of vomit that benefits those born to rule opps miss rule

0 ( +0 / -0 )

As the article says, they made 438.65 billion yen in a year, but lost 685.3 billion yen the year before.

The fact is, they need to make money in order to compensate the victims and continue the clean up. Thinking simplistically, every yen of profit should go to paying for those. Realistically, that would mean they permanently operate on the brink of financial collapse. One temporary dip in the market and they'd be needing another bailout from the government.

If it turns out that executives are taking bonuses because of this, then that's another thing. But generally speaking, it's important that the company can make money to fulfill it's many obligations in the years to come, and do so without further bailouts.

0 ( +0 / -0 )

But generally speaking, it's important that the company can make money to fulfill it's many obligations in the years to come, and do so without further bailouts.

If they don't go to the government for another huge chunk of money within the next five years, I'll eat my frigging hat.

0 ( +0 / -0 )

good news for tepco, bad news for the majority and pple of tohoku if they are not considered..perhaps there should be some protest out of this to make the profit directed to its right direction.

-1 ( +0 / -1 )

Well, as they are making a profit, it will not be necessary for the government to give them more handouts.

-2 ( +0 / -2 )

Thank you LDP, for being a major contributor to this situation of "privatise profits, socialize costs".

0 ( +0 / -0 )

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