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    7453   JP3976300008

RYOHIN KEIKAKU CO., LTD.

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Ryohin Keikaku : Muji-brand operator failed to pay 7.5 bil. yen in tax

03/18/2020 | 07:13am EDT

The operator of the Muji-brand goods store chain failed to pay 7.5 billion yen ($69 million) in income tax in the three years through February 2017, sources close to the matter said Wednesday.

The Tokyo Regional Taxation Bureau has judged that Ryohin Keikaku Co. transferred income to China that was subject to taxation in Japan, the sources said.

The company, which sells items ranging from furniture to kitchenware under the Muji brand, has been ordered to pay the tax as well as penalties of around 2.1 billion yen, the sources said.

"We have decided to pay the tax," it said in a statement, while adding its view regarding double taxation differed from that of the tax bureau.

The company said it has requested the Japanese and Chinese tax authorities to hold bilateral talks to avoid double taxation in the future.

According to the sources, Ryohin Keikaku set lower product prices and license fees for its subsidiary in China.

The tax bureau is believed to have concluded that such a practice reduced the profits that Ryohin Keikaku booked in Japan, resulting in a lower tax payment, the sources said.

Ryohin Keikaku has outlets in over 20 countries and regions. It operates 256 stores in China, its biggest overseas market.

The company posted operating revenue of around 75 billion yen in China in the year through February 2019. In Japan, the company booked revenue of around 246.2 billion yen in that year.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials
Sales 2021 457 B 4 155 M 4 155 M
Net income 2021 31 469 M 286 M 286 M
Net cash 2021 41 429 M 376 M 376 M
P/E ratio 2021 17,5x
Yield 2021 1,83%
Capitalization 556 B 5 047 M 5 048 M
EV / Sales 2021 1,12x
EV / Sales 2022 1,03x
Nbr of Employees 9 046
Free-Float 86,2%
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Ryohin Keikaku Co., Ltd. Technical Analysis Chart | 7453 | JP3976300008 | MarketScreener
Technical analysis trends RYOHIN KEIKAKU CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 2 820,00 JPY
Last Close Price 2 108,00 JPY
Spread / Highest target 66,0%
Spread / Average Target 33,8%
Spread / Lowest Target -24,1%
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Managers and Directors
NameTitle
Satoru Matsuzaki President & Representative Director
Masaaki Kanai Chairman
Yuki Yamamoto Head-Research & Technology
Nobuo Domae Senior MD, GM-Sales & Head-Information System
Isao Endo Independent Outside Director
Sector and Competitors