NGK SPARK PLUG : to pay fine ordered by Canadian court for violation of Canadian Competition Act. NEW
December 13, 2017 at 09:07 pm EST
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On December 13th, 2017 (North America - Eastern Time), NGK SPARK PLUG CO., LTD. ( hereafter 'NGK SPARK PLUG') was ordered to pay a fine of 550,000 Canadian dollars, by the Ontario Superior Court of Justice, for a violation of the Canadian Competition Act in connection with past sales of spark plugs to a certain customer.
NGK SPARK PLUG and its subsidiaries have been fully cooperating with the Canadian Competition Bureau's investigation into certain sales of spark plugs in Canada. Based on the results of an internal investigation into the alleged infringement, NGK SPARK PLUG negotiated and concluded a plea agreement with the Canadian Director of Public Prosecution. As a result, the above fine was ordered by the court.
NGK SPARK PLUG takes this situation very seriously and will continue its group-wide compliance education to prevent the recurrence of such conduct. 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, 2018 as a result of this matter.
NGK Spark Plug Co. Ltd. published this content on 14 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 December 2017 02:06:08 UTC.
Original documenthttps://www.ngkntk.co.jp/english/news/detail/001562.html
Public permalinkhttp://www.publicnow.com/view/1442EAFA04EA49BBB1590092511D018978DC266F
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. 
