(Reuters) – Tokyo Electric Power Co reported a $15 billion net loss on Friday to account for the disaster at its Fukushima nuclear plant, marking the biggest loss in Japan by a non-financial company and prompting the firm to warn its future was uncertain.
Much-criticized president, Masataka Shimizu, 66, resigned to take responsibility for the worst nuclear crisis since Chernobyl in 1986, making way for an insider, managing director Toshio Nishizawa, 60.
Engineers are battling to plug radiation leaks and bring the plant northeast of Tokyo under control more than two months after a 9.0 magnitude earthquake and deadly tsunami that devastated a swathe of Japan’s coastline and tipped the economy into recession.
The disaster has triggered a drop of more than 80 percent in Tokyo Electric’s share price and forced the company to seek government aid as it faces compensation liabilities that some analysts say could top $100 billion.
Tepco chief quits after $15 billion loss on nuclear crisis | Reuters.
