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Fiscal inspection officials in Japan have discovered that leading meat processor Nippon Meat Packers underreported taxable income in the two business years that ended in March 2003.

The shortfall in reported income is around ¥100m (US$953,000), according to Kyodo News. The Osaka Regional Taxation Bureau concluded the company intentionally hid some ¥20m of this, and fined the company ¥37m in tax penalties.