Shares in Japan's TEPCO have dived 28 per cent to a record low after a media report said that the operator of a tsunami-hit nuclear power plant would log a $A6.61 billion loss in fiscal 2011.
The shares on Monday briefly fell to an all-time low of 206 yen, down 80 yen or 28.0 per cent from Friday, suffering the maximum loss allowed for one trading day. They then slightly recovered to 210 yen, down 76 yen or 26.57 per cent.
The Kyodo News agency reported at the weekend that Tokyo Electric Power Co. was expected to post a net loss of Y570 billion ($A6.61 billion), excluding results for other group companies, for the business year to March 2012.The reported loss excludes compensation to the tens of thousands of people affected by the ongoing crisis at its crippled Fukushima Daiichi nuclear power plant, Kyodo said, citing an internal document of the company.
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