OREANDA-NEWS. Daiwa House Industry Co., Ltd. was subject to a tax inspection by the Osaka Regional Taxation Bureau for the tax years ended March 31, 2011 and March 31, 2012. Despite the diverging opinions of each party, Daiwa House has ultimately agreed that some areas of its reporting need improvement and has filed an amended tax return in line with the Osaka Regional Taxation Bureau’s advice. As of today, Daiwa House has paid all past taxes due.

Daiwa House amended the undervalued amounts by adjusting income by JPY 158 million, income taxes by JPY 47 million, and consumption taxes by JPY 1 million, and has already remitted payment of said amounts.

Daiwa House takes this matter very seriously and will take steps to prevent its recurrence and further strengthen its internal controls.