Hitachi fails to declare 10.1 billion yen in taxable income
Jiji Press -- Aug 29
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.

Source: Jiji Press
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