Tokyo Electric Power, operator of Fukushima Daiichi nuclear station, reported a Y571.7bn ($7.4bn) net loss for its first quarter as it began tallying the cost of compensating tens of thousands of people affected by the destruction of the atomic plant in March.
Some 50,000 families have been unable to return to their homes due to concerns about radiation contamination from meltdowns at three of the station’s reactors, which were wrecked by Japan’s March 11 tsunami. Experts say many are unlikely ever to be allowed to go back and Tepco is expected to face steep compensation bills for years.
The company’s quarterly loss adds to the Y1,247bn loss it reported for the year ended March 31 – a record for a Japanese non-financial company. That loss took into account the estimated Y800bn cost of bringing Fukushima Daiichi back under control and stopping radiation leaks, a process expected to take until early next year. It did not reflect compensation claims.