NTN: Notification of Judgment for the Anti-Monopoly Act on Bearings

Resource from: NTN Likes:286

Feb 06,2015

Please be advised that on February 4, 2015, NTN Corporation (hereafter, NTN) was sentenced to a penalty of 400 million yen by Tokyo District Court for violation of the Anti-Monopoly Act of Japan with respect to the domestic sales of bearings. In addition, two former executives of NTN were sentenced to 18 months and 12 months in prison, respectively, with a stay of execution for 3 years. NTN appealed this judgment on the same day. In June 2012, NTN and former executives received an indictment filed by the Tokyo District Prosecutors Office (“TDPO”) on suspicion of having violated the Japan Anti-Monopoly Act in relation to the domestic sales of bearing. We were presenting a defense during the trial since the assertions by the TDPO were greatly different from our view of the facts. We are disappointed to have such a decision and appealed on the same day. We will present our view of facts at the appeal hearing. At the same time, we will continue promoting business activities through fair and faithful competition by continuing to strengthen globally our system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules, etc.

(NTN)

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