NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announces that NSK was sentenced to penalty of JPY380 million for a violation of the Antimonopoly Act of Japan regarding sales of bearing products prosecuted on June 14, 2012 by the Tokyo District Public Prosecutors Office.
Also, NSK’s former officers and a former employee received suspended sentences.
We offer our most sincere apologies for the concern caused to our shareholders, customers, and other stakeholders regarding this matter. NSK takes the situation with the utmost seriousness and will further make sure to strictly comply with all applicable laws and regulations in our corporate activities. We will devote our every effort to restoring the trust of all the stakeholders and the public.
The impact of the conviction on NSK’s financial results is expected to be insignificant.