The operator of the Fukushima nuclear power plant, Tokyo Electric Power Co (Tepco), posted a quarterly net loss of $3.69bn yesterday, a day after it was nationalised.

Japan’s biggest utility revealed losses of 288bn yen, a huge amount yet almost half of the 571bn yen losses of a year earlier.

On Tuesday the Japanese government took a 50.1 per cent stake in Tepco and provided a cash injection of 1 trillion yen, which the company will use to pay clean-up and compensation costs associated with last year’s disaster.

Of Japan’s nine utilities that operate nuclear power stations, only Kansai Electric has restarted reactors since the crisis at Fukushima, with two going online at Ohi power plant.

And Hokuriku Electric is the only one of the nine to post a profit for the first quarter of 2012, recording 8.9bn yen.