Tokyo Electric Power Company, Incorporated Reports Sales Results for the First Half of 2012; Provides Earnings Guidance for the Year 2012
The company provides earnings guidance for the year 2012. For the year, the company expects to lose JPY 45 billion ($564 million) in 2012 instead of the JPY 160 billion initially forecast, although it still faces huge post-disaster compensation costs and higher power generation expenses, despite a government bailout and a price hike. The company announced its losses narrowed to JPY 299.48 billion for the six months to September 2012, compared with JPY 627.3 billion in the same period of 2011.