English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 9 March 2017, 11:21 JST
Share:
    

Source: Denso
The European Commission's Announcement Concerning the EU Competition Law related to Certain Automotive Components

KARIYA, JAPAN, Mar 9, 2017 - (JCN Newswire) - On March 8, 2017 (Central European Time), the European Commission announced that it has imposed fines on certain automotive suppliers that infringed EU competition law in connection with past sales of automotive HVAC units, compressors, electric compressors and radiators.

The Commission has investigated certain automotive suppliers including DENSO Corporation in this matter, and DENSO has fully cooperated with the investigation.

As per the Commission's announcement, DENSO Corporation was named as one of the suppliers that had infringed EU competition law. However, the company received full immunity from fines for HVAC units, compressors and radiators and a reduced fine of EUR322,000 for electric compressors, because the company had completely eliminated the conduct that was suspected to be in infringement before the Commission's investigation, and because it applied to the Commission under the leniency program in regard to suspected illegal conduct related to sales of those four products, which was granted by the Commission.

DENSO does not expect any significant impact on its consolidated financial forecast for the year ending March 31, 2017 as a result of this matter.

It is DENSO's policy to comply with all applicable competition laws. Since learning of the investigation that was conducted at its U.S. subsidiary by the U.S. Department of Justice in February 2010, the company has taken various measures, including implementing even more stringent compliance rules and even more enhanced compliance training to further ensure that its employees comply with all applicable competition laws. DENSO believes that it has remained in complete compliance with all competition laws.

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

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



Topic: Press release summary
Source: Denso

Sectors: Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 
Denso Links

http://www.globaldenso.com/en/

https://www.facebook.com/DENSOCorporation/

https://twitter.com/hashtag/denso?lang=en

https://www.youtube.com/channel/UCl8cZy9vYlTcnkVMEInM7XQ

https://ph.linkedin.com/company/denso

Denso Related News
Tuesday, 17 December 2024, 14:26 JST
DENSO and onsemi Collaborate for a Strengthened Relationship
Wednesday, 4 December 2024, 17:51 JST
DENSO Signs Memorandum of Understanding with Canatu of Finland for Practical Application of Carbon Nanotube Technology
Monday, 2 December 2024, 22:38 JST
DENSO to Exhibit at "Automechanika Dubai 2024"
Tuesday, 29 October 2024, 13:03 JST
DENSO and U.S. Startup Quadric Sign Development License Agreement for AI Semiconductor (NPU)
Tuesday, 1 October 2024, 9:27 JST
DENSO and ROHM Agree to Start Consideration of Strategic Partnership in the Semiconductor Field
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575