NEWS
Press Release
The Decision on Automotive Components issued by the European Commission
On March 8th of this year (Central European Time), the European Commission issued a decision finding an infringement of EU competition law to CALSONIC KANSEI CORPORATION ("the Company") with regard to the transactions of automotive-use thermal systems. This decision imposes the Company to pay a fine of 1,747,000 euros.
The Company had been investigated by the European Commission since 2011 under the EU competition law and fully cooperated to this investigation. Furthermore, this decision has been adopted by the European Commission under the EU settlement procedures.
We deeply regret that it caused inconvenience to our customers, shareholders and other relevant persons. The Company takes this matter with gravity and is continuously reinforcing its legal compliance efforts.
At this time, no revisions due to this decision have been made to the financial forecasts (announced on February 10th of this year).