TOKYO -- Japan's Tokyo Electric Power Co. Holdings is expected to swing to a consolidated net loss of around 14 billion yen ($123 million) for the fiscal year ending March 2022, compared to a net profit of 180.8 billion for the previous year, Nikkei has learned.

TEPCO will revise down its previous forecast of a profit of 67 billion yen, marking the first time in nine years that the company has posted a loss. While TEPCO's nuclear power plants have not restarted, its core thermal power generation business will be pressured by rising fuel prices.