Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
August 20, 2014
Tokyo, August 20, 2014 --- Hitachi Automotive Systems, Ltd. today announced that it has been notified by the National Development and Reform Commission of the People's Republic of China that its selling of some automotive parts has been in violation of China's Anti-Monopoly Law.
Hitachi Automotive Systems has been fully cooperating with the investigation being conducted by the National Development and Reform Commission, and by also voluntarily submitting reports and important evidence. Consequently, Hitachi Automotive Systems received the application of a penalty exemption system that exempts the company from all fines and other such administrative penalties.
Hitachi Automotive Systems is committed to ensuring to comply with each country's all applicable antitrust laws or competition laws by instituting several measures to prevent recurrence, including strengthening of internal guidelines, educational training sessions for employees by utilizing manuals etc. and the occurrence of audits at regular intervals.
Hitachi Automotive Systems intends to ensure thorough compliance going forward by carrying on with these activities and by strengthening them even further throughout the company.
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan. The company is engaged in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, and offers a wide range of automotive systems including engine management systems, electric power train systems, drive control systems and car information systems. For more information, please visit the company's website at http://www.hitachi-automotive.co.jp/en/.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
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