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Fuji Electric conceals 600 million yen in income, to pay back taxes

Tuesday 30th June, 02:25 PM JST

TOKYO —

The Tokyo Regional Taxation Bureau will impose several hundred million yen of back taxes on Fuji Electric Holdings Co., which is believed to have concealed around 600 million yen in income during four years through March 2008, company and other sources said Monday.

Its affiliate, Fuji Electric Systems Co., which is involved in the production and distribution of equipment for thermal power generation facilities at home and abroad, was found to have overclaimed its operational expenses, according to the sources.

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