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TEPCO returns to profit on bailout, rate hikesTokyo, Japan (AFP) July 31, 2013 The operator of Japan's crippled Fukushima nuclear plant said Wednesday it swung to a net profit in the quarter to June after a government bailout and electricity rate hike. Tokyo Electric Power, the embattled utility at the centre of the worst nuclear accident in a generation, said it posted a net profit of 437.9 billion yen ($4.48 billion) in the April-June period, reversing a 288.3 billion yen loss in the same quarter a year earlier. The sprawling utility, known as TEPCO, was effectively nati ... read more |
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