Sanyo may be penalised over earnings report -paper
TOKYO, Dec 16 (Reuters) - Japan's securities watchdog will recommend that the Financial Services Agency fine Sanyo Electric Co (6764.T: Quote, Profile, Research, Stock Buzz) about 8.3 million yen ($73,000) for inflating figures in its parent-only earnings reports, the Nikkei business daily reported on Sunday.
After an investigation launched in February, the Securities and Exchange Surveillance Commission concluded that the electronics maker padded its equity capital by about 30 percent in the first half that ended in Sept. 2005, the paper said.
No one at Sanyo could be reached for comment.
Sanyo, which posted a net loss in the three business years to March, is being restructured with the help of shareholder Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz). (Reporting by Aiko Hayashi; Editing by Alan Raybould)
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