On August 20, 2014 (Canada Eastern Standard Time), DENSO Corporation was ordered to pay a fine of CA$2.45 million (approximately 0.2 billion yen) by the Ontario Superior Court of Justice for violation of the Canadian Competition Act in connection with sales in Canada of certain body electronic control units [body ECUs] for motor vehicles.
DENSO has been fully cooperating with the Canadian Competition Bureau’s investigation and also negotiated for the plea agreement. As a result, the plea agreement was concluded and the above fine was ordered.
The payment will be recorded as an extraordinary loss in the second quarter of the fiscal year ending March 31, 2015.
It is DENSO’s policy to comply with all applicable competition laws. DENSO group companies have taken various measures, including implementing more stringent compliance rules, more enhanced compliance training and more meticulous compliance monitoring, so as to further ensure that employees comply with all applicable competition laws.
DENSO is committed to compliance with all applicable competition laws around the world.
*Editors’ note:
Body ECUs are in-vehicle computers that control the power supply to certain electrical components and systems, such as smart key systems, mirrors, lighting, and security systems.
Disclaimer: Auto Components India is not responsible for the content of this news release.
