Your location:  Home  >  Bearing News  >  
<<  Back

Minebea's Announcement of the Korea Fair Trade Commission on the Trading of Small-sized Ball Bearings

Resource from:  Minebea Likes:193
Nov 18,2014
On November 14, 2014, the Korea Fair Trade Commission ("KFTC") announced that KFTC had decided to issue an order for corrective action to Minebea Co., Ltd. ("Minebea") and NMB Korea Co., Ltd (Minebea's Korean sales subsidiary) and payment of surcharge of 4,912 million Korean won (approximately 500 million JPY) to Minebea concerning the violation of the Korea Fair Trade Law (competition law) in relation to the trading of small-sized ball bearings in Korea. Minebea has been committed to aggressively and voluntarily carrying out the compliance training program including the observance of competition law on an as-needed basis throughout its corporate group in Japan and overseas as well and we sincerely regret that such a decision has been made. With regard to this issue, we deeply apologize to all the parties concerned including our shareholders and customers for so many worries. Minebea takes the matter very seriously and will ensure thorough compliance system and make all-efforts to regain trust and credibility from all of such parties concerned. There is no change to the full-year business forecast for fiscal year ending March 31, 2015. Note: "Small-sized ball bearings" are based on the definition of the KFTC. Minebea Products: "Miniature and small-sized ball bearings" Company Name: Minebea Co., Ltd. Representative: Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No.1) Contact: Yasuo Komine General Manager Corporate Communications Office Phone: +81-(0)3-6758-6703
(Minebea)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous  Zero-Max Load Adaptors Connect Pump Impellers in Underwater Applications
Next  Aug 17 Bearing Steel Price in Different Regions of China

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.