Settlement with the European Commission in connection with Investigation into Automotive Parts January 27, 2016, Tokyo --- Hitachi, Ltd. ( “Hitachi” / TSE: 6501) and Hitachi Automotive Systems, Ltd.
(“Hitachi Automotive Systems”) today announced that the companies settled with the European Commission regarding infringements of the EU competition laws relating to sales of alternators and starters to certain of their customers. As part of the settlement, Hitachi and Hitachi Automotive Systems will pay the European Commission a fine of 26.86 million euros (approx. 3.45 billion yen).
Hitachi and Hitachi Automotive Systems are 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.
Hitachi and Hitachi Automotive Systems also intend to ensure thorough compliance going forward by carrying on with these activities and by strengthening them even further throughout the companies.
About Hitachi Automotive Systems, Ltd. 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/.
About Hitachi, Ltd. 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 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication 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.
