On August 19, 2014 (Chinese Time), JTEKT CORPORATION (“JTEKT”) has been imposed on a fine of 109.36 million Chinese Yuan (approximately 1,800 million Japanese Yen) by the National Development and Reform Commission (“NDRC”) of People’s Republic of China for violation of Chinese antitrust law in relation to some past sales of bearings in Chinese market.
As JTEKT treats this matter with utmost seriousness, it has taken appropriate measures to prevent recurrence and has intensified efforts to ensure compliance with all applicable laws and regulations. JTEKT sincerely regrets any related concerns. JTEKT is currently analysing the impact of the fine on the Company’s financial forecast for
the fiscal year ending March of 2015 and will make a public disclosure as soon as it becomes to be needed.
Disclaimer: Auto Components India is not responsible for the content of this news release.
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