On November 18, 2014, we were given an on-site inspection by the Japan Fair Trade Commission with regards to our supply of the equipment for fire rescue digital radio * . Today (February 2), we were issued a cease and desist order from the Commission, which has found us in violation of the Antimonopoly Act. Details are as follows:
Firstly, we deeply apologize for the trouble and concern caused to all of our associates, including our customers, business partners, and shareholders. We understand that strict compliance with the Antimonopoly Act is fundamental to engaging in fair and transparent business activities, and are aware of the gravity of this situation. We hereby pledge, more than ever before, to strengthen all initiatives put in place to comply with the aforementioned order, to prevent its recurrence, and to do our utmost to regain the trust of our associates in the future.
We had applied for a leniency policy prior to this on-site inspection, and our application had been approved, and therefore the full amount of the relevant surcharge has been waived.
Hitachi Kokusai Electric Inc. published this content on 02 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 February 2017 07:27:09 UTC.