NGK SPARK PLUG : Settlement with the Administrative Council for Economic Defence NEW
November 09, 2016 at 08:14 pm EST
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Settlement with the Administrative Council for Economic Defence
On November 9th, 2016 (Brazilian standard time), NGK SPARK PLUG CO. LTD (hereafter "NGK SPARK PLUG") and its Brazilian subsidiary, Cerâmica e Velas de Ignição NGK do Brasil Ltda. entered into a settlement agreement with the Administrative Council for Economic Defence, the antitrust authority in Brazil, and agreed to pay a pecuniary contribution totaling approximately 25 Million BRL (approximately 800 million yen) in order to settle an investigation regarding possible violation of the Brazilian Antitrust Law in the sales of automotive spark plugs in the Brazilian market.
NGK SPARK PLUG takes this situation very seriously and will continue its group-wide compliance education to prevent recurrence. NGK SPARK PLUG will strive to restore reliance from its stake holders.
NGK SPARK PLUG does not expect any significant impact on its consolidated financial forecast for the year ending March 31, 2017 as a result of this matter.
NGK Spark Plug Co. Ltd. published this content on 10 November 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 November 2016 01:14:03 UTC.
Niterra Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive products, ceramic products, and products related to new businesses. The Company has three business segments. The Automobile-related segment is engaged in the manufacture and sale of parts that are mainly assembled into automobiles, such as spark plugs and exhaust gas sensors. The Ceramics segment manufactures and sells cutting tools, industrial equipment components, semiconductor manufacturing equipment components, semiconductor packages, and oxygen concentrators for medical use. The New Business segment is engaged in the manufacture and sale of products related to new businesses such as the environmental energy field. It also sells materials and provides welfare services.
NITERRA CO., LTD. 
