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 resignation Monday of Yuko Obuchi, Japan's industry minister, was a heavy blow to Prime Minister Shinzo Abe and the cabinet he named last month. And there are concerns in the government and ruling parties that Obuchi is only the first in a string of coming cabinet resignations. (Nikkei)
Check the locks on all the Colonel Sanders statues in Osaka, because the Hanshin Tigers are headed back to the Japan Series and it was a big home run from a bearded foreign star that helped get them there. (Japan Times)
The government on Friday approved Central Japan Railway Co.'s plan to construct the Linear Chuo Shinkansen line, paving the way for the 2027 start of magnetic levitation train service connecting Tokyo and Nagoya in 40 minutes. (The Japan News)
Osaka Prefectural Police on Friday arrested two male suspects for allegedly dumping a large quantity of adult video (AV) material inside a park in Nishinari Ward, reports the Sankei Shimbun (Oct. 17). (Tokyo Reporter)
Empress Michiko celebrated her 80th birthday on Monday. In a statement distributed to media by the Imperial Household Agency, the empress said she hoped the world could find peace ahead of the 70th anniversary of the end of World War II next year. (Japan Today)
The Nagano prefectural government's disaster response headquarters said Thursday it has decided to end its search this year for missing hikers on Mt. Ontake due to the growing risk of secondary accidents. (The Japan News)