Denso: The Korea Fair Trade Commission's Announcement Concerning the Monopoly Regulation and Fair Trade Act Related to Certain Automotive Components
As per the KFTC's announcement, DENSO Corporation and its Korean subsidiary were named as the suppliers involved in the conduct suspected to be in violation of the Monopoly Regulation and Fair Trade Act. However, DENSO was exempted from all of the KFTC's orders as described above, because it had completely eliminated the conduct that was suspected to be in violation before the commencement of the authority's investigation and because it applied to the KFTC for the leniency program in regard to the automotive components referred above, which was granted by the KFTC.
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, DENSO Group companies have been taking various preventive measures, including implementing more stringent compliance rules, more enhanced compliance training and more meticulous compliance monitoring, in order to further ensure that they 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.
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 and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
Sadayoshi Yokoyama, Toshiko Watanabe DENSO CORPORATION Phone: 81-566-25-5594 Fax: 81-566-25-4509 email@example.com firstname.lastname@example.org
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