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.
September 26, 2013
September 26, 2013 --- Hitachi Automotive Systems, Ltd. ("Hitachi Automotive Systems") today announced that it has agreed with the United States Department of Justice to conclude a plea agreement regarding violations of U.S. antitrust laws occurring in connection with the sales of certain automotive parts to certain OEM customers. As part of the plea agreement, Hitachi Automotive Systems has agreed to pay a fine in the amount of one hundred and ninety-five (195) million U.S. dollars.
Hitachi Automotive Systems is committed to ensuring to comply with 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, as well as the measures taken under the Cease and Desist Order from Japan Fair Trade Commission on November 22, 2012. 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/.
