November 4, 2011 / 2:08 AM / 6 years ago

Japan: Tokyo Elec to post $7.4 billion net loss in 2011/12

TOKYO (Reuters) - Japan’s trade ministry said it expects Tokyo Electric Power Co (Tepco) will post a net loss of 576.3 billion yen ($7.4 billion) in the business year to next March, as it grapples with the clean-up of the crisis-hit Fukushima Daiichi plant.

Tepco secured 900 billion yen in assistance from a government-sponsored bailout body after the ministry approved on Friday a business restructuring by the utility, Japan’s largest.

Reporting by Rie Ishiguro and Osamu Tsukimori; Editing by Chris Gallagher and Edmund Klamann

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