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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 10, 2016
Tokyo, August 10, 2016 --- 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 sale of certain shock absorbers to certain OEM customers. As part of the plea agreement, Hitachi Automotive Systems has agreed to pay a fine of at least 55.48 million U.S. dollars.
Hitachi Automotive Systems is committed to ensuring compliance with all applicable antitrust laws or competition laws by instituting several measures to prevent recurrence, including providing thorough instruction of internal regulations, delivering lectures for executives and employees, by external professionals, implementing E-Learning for employees, and implementing periodic audits.
Hitachi Automotive Systems also intends to ensure thorough compliance going forward by carrying on with these measures 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/.