NTN released Competition Commission Singapore's Decision on Aftermarket Bearings

Resource from: NTN Corporation Likes:189

May 29,2014

Please be advised that on May 27, 2014, NTN Corporation and its subsidiary in Singapore have received the decision on aftermarket bearings from the Competition Commission Singapore. The details are as follows: 1. Main points of the decision In connection with aftermarket bearing business, the Competition Commission Singapore decided to impose fines of 455,652 Singapore dollars (about 37 million yen) on NTN Corporation and its subsidiary, NTN BEARING-SINGAPORE (PTE) LTD. for their alleged violations of the Singapore competition law with respect to sales made in Singapore from January 2006 until September 2006. 2. Background Since February 2013, the Competition Commission Singapore has been conducting the investigation on NTN Corporation and NTN BEARING- SINGAPORE (PTE) LTD. for suspicion of the violations of the Singapore competition law regarding aftermarket bearing business. We posted a provision in relation to the Competition Commission Singapore's investigation in the fourth quarter results of the last fiscal year. NTN Corporation will continue promoting business activities through fair and faithful competition by globally strengthening a system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules, etc. 3. Impacts on earnings results There is no revision to earnings forecasts resulting from the subject matter.

(NTN Corporation)

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