Tokyo Electric says 'difficult' to post profit this year

Fri Sep 27, 2013 2:07am EDT
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TOKYO (Reuters) - Tokyo Electric Power Co (9501.T: Quote), the operator of the wrecked Fukushima nuclear plant, said on Friday it will be difficult under current conditions to post a profit this fiscal year.

Tokyo Electric, also known as Tepco, is struggling to contain radioactive water at the Fukushima nuclear plant, which was devastated by a massive earthquake and tsunami in March 2011.

President Naomi Hirose said Tepco would not change its full-year target to log a profit. The utility has posted more than $27 billion in net losses since the Fukushima disaster.

(Reporting by Kentaro Hamada; Editing by Paul Tait)

Tokyo Electric Power Co.'s (TEPCO) Kashiwazaki Kariwa nuclear power plant, which is the world's biggest, is seen from a seaside in Kashiwazaki, November 12, 2012 file photo. REUTERS/Kim Kyung-Hoon/Files