Kansai Electric incurs 99.5 bil. yen in April-June net loss.
Kansai Electric Co. said Monday it posted a group net loss of 99.50 billion yen in the April to June quarter against a year-before profit of 34.47 billion yen as its fossil fuel costs rose on the suspension of nuclear plants.
Consolidated sales in the first quarter of fiscal 2012 rose 0.1 percent to 648.30 billion yen.
Kansai Electric restarted two nuclear reactors at its Oi plant in Fukui Prefecture earlier this month, after the quarterly period ended.
The company refrained from estimating earnings for the entire fiscal 2012, citing uncertainties about the resumption of other nuclear reactors that remain offline following the March 2011 Fukushima Daiichi nuclear plant accident.
"We would like to achieve the resumption of nuclear plants under the people's and local governments' understanding and trigger an earnings recovery," Kansai Electric President Makoto Yagi said at a press conference.
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|Publication:||Japan Energy Scan|
|Article Type:||Financial report|
|Date:||Jul 30, 2012|
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