Japan's TEPCO posts record loss as president resigns

From Yahoo News:

Japan's Tokyo Electric Power on Friday posted a record $15 billion loss and its under-fire president resigned to take responsibility for the worst nuclear crisis since Chernobyl 25 years ago.

The beleaguered utility posted an annual net loss of 1.247 trillion yen ($15 billion), the biggest ever for a non-financial Japanese firm. The company did not give an earnings forecast for the current financial year.

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Recent TEPCO updates have confirmed experts' fears that fuel rods inside reactor one had been fully exposed to the air and had melted, and that reactors two and three were likely in a similar condition.

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