Advertisement
News
Advertisement

Mitsubishi Electric finishes reimbursing gov't bill padding

Wed, 02/13/2013 - 11:01am
The Associated Press

TOKYO, Feb. 13 (Kyodo) — Mitsubishi Electric Corp. said Wednesday it has finished reimbursing the government following the revelation last year that the Defense Ministry and other state institutions had been overcharged in contracts for defense and space-related projects.

On Wednesday, Mitsubishi Electric -- one of Japan's leading defense contractors -- and three of its subsidiaries returned a total of 60.28 billion yen to the ministry, bringing the total amount returned to 75.72 billion yen and completing reimbursement related to the bill-padding scandal, according to Mitsubishi Electric.

The total amount included around 38.6 billion yen in penalties and interest. The company has already booked the reimbursement for the current business year.

After the bill padding was revealed last year, Mitsubishi Electric was suspended as a potential contractor for projects commissioned by the ministry as well as the National Institute of Information and Communications Technology.

With the completion of the reimbursement, the ministry said it will allow the company to be nominated as a contractor from Thursday.

The electric machinery manufacturer and its group companies had been overcharging the ministry, the Japan Aerospace Exploration Agency and other institutions since at least around 1970, according to the ministry.


 

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading