|By JCN Newswire||
|August 20, 2014 06:19 AM EDT||
The NDRC's announcement includes monetary sanction of 150.56 million yuan (approximately 2.5 billion yen) on DENSO Corporation.
The NDRC investigation involved certain automotive suppliers, including DENSO Corporation, and the company has fully cooperated with the authority.
The payment will be recorded as an extraordinary loss in the second quarter of the fiscal year ending March 31, 2015. It will have no material effect on the company's financial statements.
It is DENSO's policy to comply with all applicable antimonopoly 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 antimonopoly laws.
DENSO is committed to compliance with all applicable antimonopoly laws around the world.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 130,000 people. Consolidated global sales for the fiscal year ending March 31, 2013, totaled US$38.1 billion. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
Sadayoshi Yokoyama, Toshiko Watanabe DENSO CORPORATION Phone: 81-566-25-5594 Fax: 81-566-25-4509 [email protected] [email protected]
Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net
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