Notification of Judgment for the appeal for the Antimonopoly Act on Bearings

Resource from: NTN Likes:197

Mar 23,2016

Please be advised that on March 22, 2016, Tokyo High Court affirmed the judgment of Tokyo District Court for violation of the Japan Antimonopoly Act with respect to the domestic sales of bearings. NTN appealed to the Supreme Court 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 the violation above. In February 2015, NTN was sentenced to a monetary penalty by Tokyo District Court. In addition, two former executives of NTN were sentenced in prison with a stay of execution. NTN and the former executives of NTN appealed on the same day. We were presenting a defense during the first and the second instance since the assertions by the TDPO and fact findings of Tokyo District Court were greatly different from our view of the facts. We are disappointed to have had the above decision of Tokyo High Court and appealed on the same day. We will present our view of facts to the Supreme Court. 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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