The Tokyo Regional Taxation Bureau has found that Hitachi Ltd. <6501> failed to declare some 10.1 billion yen in taxable income on a consolidated basis for the three years to March 2012, it was learned Thursday.
The major electronics company and the tax authorities had differences of opinion about materials bought for the restoration of plants damaged by the March 2011 earthquake and tsunami in northeastern Japan, sources said.
A Hitachi official said the company has received a notice of correction from the taxation bureau and understood what was pointed out. Since the company, which incurred a group net loss of 787.3 billion yen in the year to March 2009, has cumulative losses, it was not ordered to pay neither back taxes or penalties, the official said.
The Abe administration will raise the minimum wage by 3 percent each year starting next fiscal year as part of a package of policies aimed at strengthening consumer spending and stoking economic growth. (Japan Times)
A former member of the Hyogo Prefectural Assembly who gained Internet notoriety when he suffered a breakdown during a news conference failed to show up Tuesday for the start of his fraud trial. (Japan Times)
Three bodies have been retrieved from a boat found floating in the Sea of Japan off the coast of Fukui Prefecture on Sunday, two days after a similar discovery in waters off a neighboring prefecture, reports the Yomiuri Shimbun (Nov. 23). (Tokyo Reporter)