Japan Fines Consumer Credit Firm 11 Billion Yen for Undeclared Income.

Kyodo News International, Tokyo Knight Ridder/Tribune Business News

May 31--TOKYO--Japanese consumer credit firm DIC Finance failed to declare some 50 billion yen in income in the three years until 2002 by transferring some of its profits overseas in cooperation with a Dutch affiliate, sources familiar with the case said Friday.

The National Tax Agency's Tokyo Regional Taxation Bureau has ordered the firm, which was under the umbrella of U.S. financial services giant Citigroup Inc., to pay some 10.7 billion yen in unpaid tax and penalties, the sources said. It has revised its income report to reflect the payment.

DIC Finance, which merged into CFJ …