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Konica Minolta allegedly hides Y1.8 billion in income over 2 yrs

Saturday 10th May, 05:48 AM JST

TOKYO —

Konica Minolta Holdings Inc, a major Japanese precision apparatus maker, and several of its consolidated subsidiaries have been ordered by tax authorities to pay back taxes on about 1.8 billion yen in income concealed over a two-year period through March 2007, sources close to the matter said Friday.

The Tokyo Regional Taxation Bureau uncovered a total of more than 2 billion yen in undeclared income, including cases of accounting errors, and ordered the group to pay about 1.2 billion yen in back taxes, including tax arrears and fines, the sources said.

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