|By Business Wire||
|August 20, 2014 12:30 AM EDT||
Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has received on August 19 an order from Republic of China’s National Development and Reform Commission (NDRC) for payment of a surcharge amounting to 44.88 million yuan, or approximately 700 million yen. The payment is for infringement of Republic of China’s Antimonopoly Act Article 13, which concerns monopoly agreements regarding prices, in connection with certain automotive parts sold by the company in the past. Mitsubishi Electric has been cooperating with the NDRC investigation, which was launched on May 6, 2014.
Mitsubishi Electric, which takes this matter very seriously, will comply with the order. The company will also reconfirm that compliance measures are thoroughly implemented as part of its efforts to recover public trust.
In relation to the surcharge payment, there will be no change in Mitsubishi Electric's consolidated financial forecast for the fiscal year ending March 2015.
Competition Law Countermeasures Regarding
On October 1, 2011, Mitsubishi Electric’s Automotive Equipment Group established the Automotive Equipment Compliance Office, which reviews internal rules and compliance training for employees. Mitsubishi Electric, consistent with its commitment to recovering public trust, working through the compliance divisions formed in each business group on October 1, 2012, has instituted a variety of measures to strengthen compliance programs concerning not only competition law but all laws and regulations. This effort has been supported by a special committee of advisors, including members independent of the company, regarding compliance issues.
About Mitsubishi Electric Corporation
With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,054.3 billion yen (US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2014
Sep. 3, 2015 10:15 PM EDT
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 3, 2015 10:00 PM EDT Reads: 482
Sep. 3, 2015 10:00 PM EDT Reads: 177
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Sep. 3, 2015 09:30 PM EDT Reads: 115
Sep. 3, 2015 08:30 PM EDT Reads: 147
Sep. 3, 2015 08:00 PM EDT Reads: 445
Sep. 3, 2015 07:15 PM EDT Reads: 106
Sep. 3, 2015 05:30 PM EDT Reads: 361
Sep. 3, 2015 05:15 PM EDT Reads: 532
Sep. 3, 2015 05:00 PM EDT Reads: 544
Sep. 3, 2015 04:30 PM EDT Reads: 429
Sep. 3, 2015 04:00 PM EDT Reads: 259
Sep. 3, 2015 03:00 PM EDT Reads: 1,605
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Sep. 3, 2015 02:45 PM EDT Reads: 387
Sep. 3, 2015 02:45 PM EDT Reads: 481