TOKYO, March 31 Tokyo Electric Power Co (Tepco)
, the operator of the crippled Fukushima nuclear power
plant, said on Monday it plans to cut 576.1 billion yen ($5.6
billion) of costs over a 1-year period and 1.3 trillion yen over
The cuts are more than the reductions Tepco would have made
before the meltdowns at the Fukushima plant north of Tokyo three
years ago, the utility said in a statement.
Tepco also plans to cut its investments by a further 410
billion yen over three years - above the targets outlined in a
business turnaround plan that was approved this year by the
government, which took over Tepco after the March 2011 disaster.
The company aims to generate recurring profit of 130 billion
yen by the year starting April 2016.
It laid out the costs and profit targets in what it called
an 'action plan'.
($1 = 102.9250 Japanese Yen)
(Reporting by Aaron Sheldrick; Editing by Ian Geoghegan)