Nippon Television Network Corp. has announced a correction in its financial statements, saying shares that had been reported as held by Tsuneo Watanabe, chairman of Yomiuri Shimbun Group Honsha, actually belong to the group's holding company.
The practice has been in place for more than 30 years, Nippon TV said.
The network has submitted revised financial reports to the Kanto Local Finance Bureau because it found the incorrect information during a recent check following revelations that Seibu Railway Co. underreported equity stakes held by major shareholders, Nippon TV officials said.
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