China's National Development and Reform Commission Imposes Monetary Sanctions for Violation of Anti-Monopoly Law
October 31, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
China's National Development and Reform Commission Imposes Monetary Sanctions  for Violation of Anti-Monopoly Law  - JCN Newswire
Share:
China's National Development and Reform Commission Imposes Monetary Sanctions for Violation of Anti-Monopoly Law

Kariya, Japan, Aug 20, 2014 - (JCN Newswire) - The National Development and Reform Commission (the NDRC) of China announced today that it decided to impose monetary sanctions on certain automotive suppliers for violation of China's Anti-Monopoly Law in connection with sales of certain automotive components.

The NDRC's announcement includes monetary sanction of 150.56 million yuan (approximately 2.5 billion yen) on DENSO Corporation.

The NDRC investigation involved certain automotive suppliers, including DENSO Corporation, and the company has fully cooperated with the authority.

The payment will be recorded as an extraordinary loss in the second quarter of the fiscal year ending March 31, 2015. It will have no material effect on the company's financial statements.

It is DENSO's policy to comply with all applicable antimonopoly laws. DENSO group companies have taken various measures, including implementing more stringent compliance rules, more enhanced compliance training and more meticulous compliance monitoring, so as to further ensure that employees comply with all applicable antimonopoly laws.

DENSO is committed to compliance with all applicable antimonopoly laws around the world.

About Denso

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 130,000 people. Consolidated global sales for the fiscal year ending March 31, 2013, totaled US$38.1 billion. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.

Contact:

Sadayoshi Yokoyama, Toshiko Watanabe 
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
sadayoshi_yokoyama@denso.co.jp 
toshiko_watanabe@denso.co.jp

 


Aug 20, 2014
Source: Denso

Denso (TSE: 6902) (U.S: DNZOY)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
View more news from these Sectors: Automobile Parts and Manufacturing, Automobile Technical


 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)