Tokyo Electric Cuts Profit Forecast on Nuclear Plant Shutdown After Quake

(Bloomberg) -- Tokyo Electric Power Co., forced to
shut the world's largest nuclear plant after an earthquake this
month, slashed its profit forecast because the utility will need
to burn costlier oil and gas to make up the shortfall.

Tokyo Electric predicted net income of 65 billion yen ($547
million) in the year ending March 31, compared with 310 billion
yen estimated in April, Asia's biggest utility said in a
statement to the stock exchange today. The forecast for pretax
profit was cut to 130 billion yen from 400 billion yen, and the
sales estimate raised to 5.45 trillion yen from 5.4 trillion yen.


Read more at Bloomberg Energy News

Japanese Shares Drop, Led by Exporters as Yen Gains; Canon, Nintendo Slide

(Bloomberg) -- Japanese stocks fell, led by
exporters including Canon Inc. and Nintendo Co. on concern yen
gains versus the dollar will erode the value of their U.S. sales.

Millea Holdings Inc. led insurers lower for a second day on
speculation a July 16 earthquake will result in increased claims.
Tokyo Electric Power Co. declined on speculation one of the
company's nuclear plants will be shut for up to three months due
to quake damage.


Read more at Bloomberg Stocks News

Japan Stocks Drop; Insurers, Power Companies Decline on Earthquake Concern

(Bloomberg) -- Japanese stocks fell, led by insurers
and power producers for a second day after an earthquake struck
northwestern Japan on June 16.

Millea Holdings Inc., Japan's largest insurer by market
value, and Tokyo Electric Power Co. led declines on concern
damages caused by the quake will result in high payments and
increased costs.


Read more at Bloomberg Stocks News

Tokyo Electric to Sell 50 Billion Yen of 12-Year Bonds After Rates Fell

(Bloomberg) -- Tokyo Electric Power Co., Asia's
largest power producer, plans to market 50 billion yen ($412
million) of bonds starting tomorrow, after raising 100 billion
yen last week, a finance department manager said.

The company, known as Tepco, plans to sell bonds maturing
in 12 years this week, the manager said, asking not to be
identified because the information isn't public. The last time
Tepco sold bonds of that maturity was in August 2000.


Read more at Bloomberg Bonds News