Result of Request for Review of Supplementary Tax Assessment Based on Application of the Taxation System Concerning Tax Havens

On July 23, 2009, Funai Electric Co., Ltd. received the written ruling of the Osaka Regional Tax Tribunal concerning the Company’s request for review of the supplementary tax assessment under the taxation system concerning tax havens.

Funai Electric Co., Ltd. received a rectification notice from the Osaka Regional Taxation Bureau on June 16, 2008.

The Company objected to this supplementary tax assessment and filed a request for review of the assessment with the Osaka Regional Tax Tribunal on August 6, 2008, and filed a complaint with the Osaka District Court for the rescission of the supplementary tax assessment order, pursuant to the applicable laws and regulations. The Company has now received the written verdict from the Osaka Regional Tax Tribunal stating it will dismiss the Company's assertion.

Funai Electric Co., Ltd. believes this judgment indeed regrettable and is not a ruling to which it can agree, and will continue to assert the validity of its arguments in the future. The lawsuit, jointly with the other lawsuit filed on June 28, 2005, is now pending at the court.

The verdict from the Osaka Regional Tax Tribunal will not have a material affect on the Company’s operating results for the fiscal year ending on March 31, 2010.

 

INQUIRIES ABOUT THIS PRESS RELEASE
Naoyuki Takanaka
Investor / Public Relations Department
TEL:+81-72-870-4395

 

Result of Request for Review of Supplementary Tax Assessment Based on Application of the Taxation System Concerning Tax Havens [PDF:56KB]