Feb, 21 2018 20:37 JST

Source: Denso

Denso: European Commission's Announcement Concerning the EU Competition Law related to Certain Automotive Components

KARIYA, JAPAN, Feb, 21 2018 - (JCN Newswire) - On February 21, 2018 (Central European Time), the European Commission announced that it has imposed fines on certain automotive suppliers that infringed EU competition law in connection with past sales of automotive spark plugs.

The Commission has investigated certain automotive suppliers including DENSO Corporation in this matter, and DENSO has fully cooperated with the investigation.

As per the Commission's announcement, DENSO Corporation was named as one of the suppliers that had been involved in the conduct suspected to be in violation of EU competition law. However, the company received full immunity from fines, because the company had completely eliminated the conduct that was suspected to be in infringement before the Commission's investigation, and because it applied to the Commission under the leniency program in regard to suspected illegal conduct related to sales of the product, which was granted by the Commission.

It is DENSO's policy to comply with all applicable competition laws. Since learning of the investigation that was conducted at its U.S. subsidiary by the U.S. Department of Justice in February 2010, DENSO has taken various measures, including implementing even more stringent compliance rules and even more enhanced compliance training to further ensure that its employees comply with all applicable competition laws. DENSO believes that it has remained in complete compliance with all competition laws.

DENSO is committed to compliance with all applicable competition laws around the world.

About Denso
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.

Sadayoshi Yokoyama, Toshiko Watanabe 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
[email protected] 
[email protected]
Source: Denso
Sectors: Automotive

Copyright ©2018 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release

DENSO Leads Dellfer's Initial Funding Round, Supporting Cybersecurity for Connected Vehicles
February 22 2018 14:22 JST
DENSO Takes a Stake in CREATIONLINE to Strengthen Connectivity Business
February 14 2018 12:06 JST
DENSO Taps Technical Expert Takuya Oikawa to Enhance Information and Communications Technology Business
February 12 2018 07:22 JST
DENSO to Exhibit in India at 14th Auto Expo 2018 - Components
February 06 2018 10:13 JST
DENSO Announces Third-quarter Financial Results
February 02 2018 16:20 JST
DENSO to Strengthen R&D Capabilities and Collaboration with New Tokyo Facility
February 01 2018 11:35 JST
DENSO Develops New Vision Sensor for Improved Night Driving Safety
January 29 2018 16:38 JST
DENSO Undertakes Demonstration Project to Advance Manufacturing Industry in Thailand
January 19 2018 13:47 JST
DENSO, Toshiba Digital Solutions, and Toshiba Information Systems Conclude a Capital Alliance Agreement
January 15 2018 14:54 JST
DENSO Leads AI-Powered Fleet Management Technology Company ActiveScaler's Seed Funding Round
January 08 2018 10:08 JST
More Press release >>

Latest Press Release

More Latest Release >>