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Article: TEPCO TO BOOK US$378.8 MLN ASSET IMPAIRMENT LOSS IN FY03.
- Article from:
- AsiaPulse News
- Article date:
- March 30, 2004
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TOKYO, March 30 Asia Pulse - Tokyo Electric Power Co. (TSE:9501) said Monday that it will record an extraordinary loss of about 40 billion yen (US$378.8 million) in fiscal 2003, which ends Wednesday, as a result of adopting asset impairment accounting ahead of the fiscal 2005 government deadline.
The loss stems from write-downs on such assets as power generation facilities still under construction.
Tepco predicts that group net profit will grow 6 ...