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Nippon Sheet Glass Hides 1.2 B. Yen in Income

Post Time:Sep 04,2008Classify:Company NewsView:359

Tokyo, Sept 4, 2008 (Jiji Press) - Nippon Sheet Glass Co. <5202> concealed about 1.2 billion yen in taxable income over the three years ending in March 2007, sources familiar with the matter said Wednesday.

The Tokyo Regional Taxation Bureau slapped the company with about 500 million yen in additional and penalty taxes, the sources said.

The company deliberately hid the income by inappropriately booking expenses for factory repair parts, the sources said.

The company drew global attention in 2006 when it acquired British glass maker Pilkington PLC.

Source: Jiji PressAuthor: shangyi

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