business

TEPCO reports Y616.1 billion first-half profit

9 Comments

The operator of Japan's crippled Fukushima nuclear plant on Thursday logged a first-half net profit with its results boosted by a government bailout and electricity rate hike.

Tokyo Electric Power Co (TEPCO), the embattled utility at the center of the worst nuclear accident in a generation, said it earned 616.1 billion yen in the six months to September, reversing a year-earlier loss.

Sales climbed to 3.22 trillion yen, up from 2.88 trillion yen, owing to a government-approved electricity rate hike, it said.

TEPCO was effectively nationalised last year with a huge injection of government money to keep it afloat as it faces massive compensation and clean-up costs after the 2011 nuclear disaster.

© (c) 2013 AFP

©2019 GPlusMedia Inc.

9 Comments
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Where do priorities come into play here ??? Corporate world v The people, things just never change.

0 ( +0 / -0 )

Making healthy profits while thousands of people still live in makeshift shelters. TEPCO scum

3 ( +3 / -0 )

That amount should just about cover the first round of compensation payments for the 150,000 people that had their lives destroyed by these mullets. Or, how about giving us our 10% increase back? While it is important for TEPCO to remain in the black they should not be able to bank their profits until they have fully compensated the victims, paid back the funds to the government and reduced electricity tariffs. The public have paid this mob twice through public funds and increased tariffs. Every struggling company in Japan should be eligible for the same support.

3 ( +3 / -0 )

that amount should also go to pay back the government loans made with our tax money!

1 ( +1 / -0 )

TEPCO reports Y616.1 billion first-half profit

This must be EBITDA: Meaning earnings Before Interest, Tax, Debts and Amortisation. Briefly, these are just earnings before compensation and any money borrowed from government and other entities, salaries, cleanup charges, etc. The NET earnings after all this is obviously in the jaw-breaking negatives....

2 ( +2 / -0 )

Well, my electric bill went down last month. Think and unplug everything peeps. It works.

1 ( +1 / -0 )

If they are back in the black, why don't they PAY for the mess they made, compensate and relocate all the families that had their lives destroyed by TEPCO's negligence and cronyism. I wonder what kind of self-gratuitous bonus's the executives and giving themselves this year...(6 months, 8 months...?). Shameful.

1 ( +1 / -0 )

How much money was injected by the government again?

1 ( +1 / -0 )

@Magnet: they got a whopping 1 trillion yen ($12.8 billion) from the Japanese government!!!

1 ( +1 / -0 )

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