NACHI released the Decision issued by the Competition Commission of Singapore regarding bearings

Resource from: NACHI-FUJIKOSHI CORP. Likes:217

May 29,2014

On May 27, 2014, the Competition Commission of Singapore ("CCS") has issued a decision to impose a fine of approximately 756 million Singaporean dollars on NACHI-FUJIKOSHI CORP. ("NFC") and its Singaporean subsidiary, NACHI SINGAPORE PRIVATE LIMITED ("NSP") for violation of the Competition Act of Singapore concerning the supply of certain bearings in the Singaporean market (the "Decision"). NFC and NSP have fully cooperated with the CCS's investigation after CCS conducted the on-site inspection on February 6, 2013 for a suspected violation of the Competition Act. NFC will review the Decision and consider our response carefully. NFC expresses its deepest regret for causing significant concerns to its shareholders, customers and all other stakeholders. NFC takes the CCS's findings very seriously and will ensure rigorous implementation of the compliance measures currently in place at NFC, and its group companies based in and outside Japan, and work to restore the public trust. The Decision does not affect NFC's earnings forecasts for the financial year ending November 2014.

(NACHI-FUJIKOSHI CORP.)

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