Yusen Air & Sea Service : Decision of the European Commission (11KB)(disclosed on 2012/3/29)
04/01/2012| 10:08pm US/Eastern
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March 29, 2012
To our shareholders:
Corporate Name: Yusen Logistics Co., Ltd. Representative:
Hiromitsu Kuramoto, President and Representative Director
Security Code: 9370, the First Section of TSE
Contact: Shinsuke Masuda, General Manager, Investor Relations
Department
(Tel: +81 3 6703 8298)
Decision of the European Commission
1. Details
As stated in a European Commission press release dated March
28, 2012, the European Commission has decided to impose a
fine of 319,000 euro (approximately 35 million yen) on the
Company's Chinese subsidiary Yusen Shenda Air & Sea Service
(Shanghai) Ltd. (head office: Shanghai, China; hereinafter
"Yusen Shenda).
Yusen Shenda has always cooperated fully in European
Commission investigations. However we take this decision
seriously, and will endeavor to restore confidence by
thoroughly instituting the compliance initiatives that are
currently in place at domestic and overseas group
companies.
2. Impact on business results
The impact on consolidated forecasts for the March 2012 is
minor.
End
Note: The original disclosure in Japanese was released on
March 29, 2012 at 16:30 (GMT +9)
distributed by
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This press release was issued by Yusen Logistics Co. Ltd. and was initially posted at http://www.jp.yusen-logistics.com/eng/ir/news/2012/pdf/120329-2.pdf . It was distributed, unedited and unaltered, by noodls on 2012-04-02 04:04:56 AM. The issuer is solely responsible for the accuracy of the information contained therein.
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