President of Japan’s TEPCO resigning—report

TOKYO-—A report says the president of the operator of Japan’s tsunami-hit nuclear power plant is resigning.

Japan’s top-selling newspaper Yomiuri says that Masataka Shimizu is stepping down from his position as president of Tokyo Electric Power Co. to take responsibility for the handling of the nuclear crisis at the Fukushima Dai-ichi power plant.

TEPCO company spokeswoman Ryoko Sakai declined to confirm Friday’s report, which cited no sources.

The troubled utility company is to announce its earnings results later Friday. Kyodo News agency says TEPCO will incur a net loss of 1.2 trillion yen ($14.7 billion) for the fiscal year to March 2011 due to the nuclear disaster.