• Kyodo

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SoftBank Group Corp. said Tuesday it had failed to declare about ¥40 billion ($377 million) in taxable income in the business year through March 2019.

Tax authorities have found that SoftBank Group overstated foreign exchange losses and made errors in booking costs related to an overseas subsidiary. No additional taxes were levied as the underreported income was offset by losses in the fiscal year, according to sources familiar with the matter.

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