Mitsubishi Electric completes refund payments for overcharged expenses
TOKYO —
Mitsubishi Electric Corp announced Saturday that it reimbursed a total of 15,436,571,720 yen as refunds for overcharged expenses in the space systems business of its Electronic Systems Group to the Cabinet Satellite Intelligence Center, the Japan Aerospace Exploration Agency and the National Institute of Information and Communications Technology.
The company said its suspension from bidding on work for the three entities was lifted as of Saturday.
The impact of the reimbursement on the company’s business performance has already been considered in the company’s current consolidated financial results forecast for the current fiscal year ending March 2013, which were announced on Dec 21, 2012.
Business Wire
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minello7
15,436,571,720 yen ?? some mathematical genius must have come up with this one.
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