DENSO Fined by the Canadian Court for Violation of the Canadian Competition Act
October 1, 2014     Japanese 
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DENSO Fined by the Canadian Court for Violation of the Canadian Competition Act - JCN Newswire
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DENSO Fined by the Canadian Court for Violation of the Canadian Competition Act

Tokyo, Aug 21, 2014 - (JCN Newswire) - On August 20, 2014 (Canada Eastern Standard Time), DENSO Corporation was ordered to pay a fine of CA$2.45 million (approximately 0.2 billion yen) by the Ontario Superior Court of Justice for violation of the Canadian Competition Act in connection with sales in Canada of certain body electronic control units (body ECUs) for motor vehicles.

DENSO has been fully cooperating with the Canadian Competition Bureau's investigation and also negotiated for the plea agreement. As a result, the plea agreement was concluded and the above fine was ordered.

The payment will be recorded as an extraordinary loss in the second quarter of the fiscal year ending March 31, 2015.

It is DENSO's policy to comply with all applicable competition 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 competition laws.

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

Note:

Body ECUs are in-vehicle computers that control the power supply to certain electrical components and systems, such as smart key systems, mirrors, lighting, and security systems.

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 21, 2014
Source: Denso

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

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


 
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