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Sunday, January 29, 2012

Mitsubishi Electric admits overcharging for defense projects

Mitsubishi ElectricMitsubishi Electric Corp. has admitted it overcharged on defense- and space-projects ordered by the Defense Ministry, the Cabinet Satellite Intelligence Center and the Japan Aerospace Exploration Agency.

The ministry and the center said they will not in principle sign project contracts with the electrical machinery manufacturer until the situation is fully investigated and the company repays the amounts it overcharged them.

JAXA also said it has banned the company from bidding for projects.

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