NEW YORK - Tokyo Electric known as Tepco has seen it shares crushed since the earthquake hit the island nation on March 9, 2011. The earthquake caused a leak at its Fukushima Plant which has persisted to the present date.
Tokyo Electric recently announced a loss of $15.6 billion as the company faced 1020 billion Yen in restoration costs. A 56 billion Yen accounting loss for the retirement of some of their plants. As well as reversal of 478 billion yen of deferred tax assets.
The company expects to lose 570 billion in 2011 before considering the losses from compensation claims. Which have been estimated to be several trillion Yen. After all of this the company may have tangible equity of -3.7 trillion Yen.
So are we here recommending Tepco stock? Read our report to find out
Tepco Report
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