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Japanese utility company profits slump


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Japanese utility company profits slump

The Tokyo Electric Power Company has reported an annual loss of around 7.6bn euros.

Most of the losses are due to compensation claims for the Fukushima nuclear disaster caused by last year’s earthquake and tsunami.

Damage to the plant caused a radiation leak which led to the closure of all the country’s atomic power stations.

The disaster brought Japan’s biggest utility company to the brink of bankruptcy.

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