4 Mitsubishi Electric Affiliates suspended from Defense Ministry bidding
TOKYO —
Mitsubishi Electric Corp said Friday that four of its consolidated subsidiaries and an equity method affiliate each received notice from the Ministry of Defense (MOD) that they have been suspended from participating in further bidding.
Following revelations on Jan 27 that Mitsubishi Electric had overcharged the MOD for work on surface-to-air missiles and inflated work hours and design fees, the Cabinet Satellite Intelligence Center and the Japan Aerospace Exploration Agency for expenses, Mitsubishi Precision Co, Mitsubishi Electric TOKKI Systems Corp and Mitsubishi Space Software Co, which are subsidiaries of Mitsubishi Electric, as well as Taiyo Musen Co, an equity method affiliate, found through internal investigation that they had also overcharged the MOD by shifting work records among different orders.
The four companies notified the MOD about the overcharges on Friday.
Business Wire
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3 Comments
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-1
herefornow
My gosh, does fraud exist in every organization and level in Japan? Mitsubishi, one of the stalwart companies/trading houses on which Japan Inc. was built even steals from the government.
-2
Mitesh Thacker
Wow! fabulous post,feeling great after reading this post. Awesome one dude. You made me a fan of yours.
Regards, http://www.miteshthacker.com
0
Elvensilvan
Wow! Japan's designing SAMs?
You do learn something new everyday.
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