Jan. 16, 2017 News Releases
KARIYA (Japan)-The Korea Fair Trade Commission (the 'KFTC') announced today that it decided to order to rectify illegal conduct and impose a surcharge on certain automotive suppliers pursuant to the Monopoly Regulation and Fair Trade Act, in connection with certain past sales of automotive exhaust gas sensors.
The KFTC has investigated this matter at certain automotive suppliers, including DENSO Corporation, and DENSO has fully cooperated with the KFTC.
As per the KFTC's announcement, DENSO Corporation was named as the supplier involved 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 suspected illegal conduct related to sales of automotive exhaust gas sensors, 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 published this content on 16 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 January 2017 04:55:03 UTC.