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An employee of the Korea Exchange Bank counts one hundred U.S. dollar banknotes at the bank's headquarters in Seoul, August 11, 2011. REUTERS/Jo Yong-Hak

Corporate cash-hoarding continues

Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports.  Read more at Counterparties 

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Shikoku Electric skips profit forecast due to nuclear shutdown

TOKYO | Wed Oct 31, 2012 1:41am EDT

TOKYO (Reuters) - Shikoku Electric Power Co (9507.T) said on Wednesday it will skip issuing a profit forecast for the 12 months to March 31 due to uncertainty over when it can restart its Ikata nuclear plant.

All but two of Japan's 50 nuclear reactors have been idled for safety checks and upgrades after the Fukushima nuclear disaster last year, the world's worst since Chernobyl in 1986.

Shikoku Electric said it had a loss of 15.01 billion yen ($188.62 million) for the six months to September 30, after spending more on fossil fuels to generate electricity, compared with a profit of 16.04 billion yen in the same period a year earlier.

(This story is corrected with year earlier earnings figure)

(Reporting by Yuko Inoue; Editing by Aaron Sheldrick and Michael Watson)
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