Subscribe free to our newsletters via your
. GPS News .




MILPLEX
Mitsubishi Electric pays $810 mn in overcharge penalties
by Staff Writers
Tokyo (AFP) Feb 13, 2013


Mitsubishi Electric said Wednesday it has paid the Japanese government about $810 million after it inflated fees for defence and other contracts, the latest in a wider overcharging scandal.

The company, which makes everything from batteries to nuclear plants, had been barred from bidding on government contracts until it paid the defence ministry some 60.28 billion yen ($645 million) in penalties, interest and reimbursements for jacking up its rates.

The whopping figure follows payments last month worth 15.4 billion yen for overcharging Tokyo on various contracts, including its space programme.

Rival industrial giant Sumitomo Heavy Industries also returned 2.3 billion yen to the defence minstry over its overcharging.

The scandal came to light last year, with Mitsubishi Electric admitting that it routinely inflated charges on some of its government contracts stretching back four decades.

.


Related Links
The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








MILPLEX
Russia says supplying Syria, Mali with arms
Moscow (AFP) Feb 13, 2013
Russia said Wednesday it was delivering military hardware and light weapons to the governments of Syria and Mali as it expands sales and maintains its footing in some of the world's deadliest conflicts. The head of Russia's arms exporter Rosoboronexport, Anatoly Isaikin, said Russian deliveries to the Syrian regime of President Bashar al-Assad included air defence systems but not the advance ... read more


MILPLEX
Plant scientists at CSHL demonstrate new means of boosting maize yields

Scientists identify genetic mechanism that contributed to Irish Famine

Can plants be altruistic?

Investors who trample land rights risk bottom line: experts

MILPLEX
European Investments in Advanced Computing Systems Deliver Results

A review of the rapidly evolving field of topological insulator hybrid structures

Biological circuits with memory created

Rutgers Physics Professors Find New Order in Quantum Electronic Material

MILPLEX
Boeing and Elbit Systems to Collaborate on Aircraft Defense Solutions

F-35A Completes 3-Year Clean Wing Flutter Testing Program

E-2D Advanced Hawkeye Approved For Full-Rate Production

Major fighter jet deal, trade dominate Hollande's India trip

MILPLEX
Nissan profit tumbles on China, Europe woes

Japan's Suzuki sees April-December net profit rise 19%

Japan's Mazda swings back to profit

China auto sales hit record in January: industry group

MILPLEX
Amazon seeks relaxation of India e-commerce rules

India IT exports picking up steam

Mercosur seeks Canada deal, but Cuba looms

Tech giants summoned by Australia pricing inquiry

MILPLEX
Taiwan's 'King of the Trees' fights for the forests

Outside View: Restoring Lebanon's forests

Mixed forest provides beneficial effects

Paper giant APP promises no deforestation in Indonesia

MILPLEX
US launches Earth observation satellite

NightPod Images Bring Earth to Light From Space Station

Landsat Data Continuity Mission Awaits Liftoff

Ball Supplies Advanced Imaging Instrument For Landsat 8

MILPLEX
Giving transplanted cells a nanotech checkup

Boston College researchers' unique nanostructure produces novel 'plasmonic halos'

Using single quantum dots to probe nanowires

A new genre of 'intelligent' micro- and nanomotors




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement