NGK SPARK PLUG : reaches settlement with European Commission NEW
February 21, 2018 at 08:06 pm EST
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On February 21, 2018 (Brussels Time), NGK SPARK PLUG CO., LTD. (hereafter 'NGK SPARK PLUG') was notified by the European Commission (the 'Commission') of its decision imposing a fine of 30,265,000 Euros for an infringement of EU competition law in connection with past sales of spark plugs within the European Economic Area.
NGK SPARK PLUG and its subsidiaries have been fully cooperating with the Commission's investigation. Having taken into consideration the facts discovered through the investigation, NGK SPARK PLUG was able to successfully reach a settlement with the Commission. As a result, the above fine has been imposed by the Commission.
NGK SPARK PLUG takes compliance very seriously and will continue its group-wide compliance training to prevent the recurrence of such conduct. NGK SPARK PLUG will ensure to restore trust from its stakeholders.
NGK SPARK PLUG does not modify its consolidated financial forecast for the year ending March 31, 2018 as a result of this matter.
NGK Spark Plug Co. Ltd. published this content on 22 February 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2018 01:05:02 UTC.
Original documenthttps://www.ngkntk.co.jp/english/news/detail/001604.html
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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. 
