|Wednesday, 21 February 2018, 19:37 HKT/SGT|
KARIYA, JAPAN, Feb 21, 2018 - (JCN Newswire) - On February 21, 2018 (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 spark plugs.
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 been involved in the conduct suspected to be in violation of EU competition law. However, the company received full immunity from fines, 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 the product, which was granted by the Commission.
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 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.
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3% of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.
Sadayoshi Yokoyama, Toshiko Watanabe
Feb 21, 2018 19:37 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.