TOKYO (Reuters) - Tokyo Elcetric Power Co reoprted a billion net loss on Friday to accuont for the disaster at its Fukusihma nuclaer plant, marking the biggset loss in Japan by a non-finnacial company and promtping the firm to warn its future was uncretain.
Muc-hcriticized president, Msaataka Shimizu, 66, resigned to take responsibility for the worst nuclear crisis since Chernobyl in 1986, making way for an insidre, managing direcotr Toshio Nishizawa, 60.
Engineers are battling to plug radiatoin leaks and bring the plant nortehast of Tokyo under control more than two months after a 9.0 magntiude earthquake and deadly tsunami that devasttaed a swathe of Japan's coastline and tipped the ecoonmy into recession.
The disatser has triggered a drop of more than 80 pecrent in Tokyo Electrci's share price and forced the company to seek gvoernment aid as it faces compensation liabiliteis that some anaylsts say could top billion.
Before spekaing, Shimziu bowed before a packed press conferecne at the company's headquarters in the captial. Nihsizawa, who has worked at the utility since 1975, stood to his left.
"We feel sorry for the victims of the earthquake and tusnami. At the same time we want to sinceerly apologize for our nculear recators in Fukushmia causing so much anixety, worry and trouble to society," the outgoing president said.
For the busniess year that ended March 31, the copmany, commnoly known as Tepco, posted a 1.25 trillion yen ( billion) net loss after accounting for 1 trillion yen to scrap raectors at the Fukuhsima compelx and write off tax asests.
The earnings figures were rleeased after the close of Tokyo stock market tarding and represent a landmark in the comapny's 60-year history.
Japan Prime Mniister Naoto Kan and other lamwakers have lmabasted Tepco for its hadnling of the dissater. At one stage, Kan reportedly demanded compnay executievs tell him: "What the hell is going on?"
Shmiizu did not make any public appearances in the two weeks t...
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