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.

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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.

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