Contact: Bridgette LaRose
DENSO International America, Inc.
Phone: (248) 372-8266
- 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 Corporation:
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 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 9.0 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
About DENSO in North America:
DENSO employs more than 17,000 people at 33 consolidated companies and affiliates throughout North America. Of these, 28 are manufacturing facilities located in the U.S., Canada and Mexico. In the U.S. alone, DENSO employs more than 14,000 people in California, Alabama, Michigan, North Carolina, South Carolina, Tennessee, Kentucky, Georgia, Iowa, Ohio, Arkansas, and Pennsylvania. DENSO’s North American consolidated sales totaled US$7.9 billion for the fiscal year ending March 31, 2014.
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