Please be advised that on December 6, 2017, NTN acknowledged that the Supreme Court dismissed its final appeal regarding violation of the Japan Antimonopoly Act with respect to the domestic sales of bearings as of December 5, 2017.
In June 2012, NTN and former executives received an indictment filed by the Tokyo District Prosecutors Office (“TDPO”) on suspicion of the violation above.
In February 2015, NTN was sentenced to a monetary penalty by Tokyo District Court. In addition, two former executives of NTN were sentenced in prison with a stay of execution. NTN and the former executives of NTN appealed on the same day.
In March 2016, Tokyo High Court rejected our appeal and retained the judgment of Tokyo District Court. 011.40.1120.101.04.11F3 CRANE QY-16 NTN and the former executives of NTN appealed to the Supreme Court on the same day.
We were presenting a defense during these instances since the assertions by the TDPO and fact findings of Tokyo District Court and Tokyo High Court were greatly different from our view of the facts. We are disappointed to have had the above ruling of the Supreme Court.
In light of the result above, we will continue promoting business activities through further fair and faithful competition by continuing to strengthen globally our system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules, etc.
Email: sales@vvbearing.com
