Major pharmaceutical company Eisai Co. has paid 400 million yen in penalties and back taxes for failing to properly declare about 1 billion yen in income during the two years to March 1999, industry sources said Tuesday.
The Tokyo Regional Taxation Bureau slapped the fine on Eisai in connection with accounting mistakes made on conference fees and inventories of clinical drugs.
Eisai, based in Bunkyo Ward, issued a statement denying any income coverup and insisting its accounts were properly done.
Eisai's sales in the business year ending in March this year totaled about 361.7 billion yen.