Tokyo, Japan, March 29, 2013 – NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) was investigated on July 26 and 27, 2011 by the Japan Fair Trade Commission (the “JFTC”) in relation to a suspected violation of the Antimonopoly Act of Japan regarding sales of bearing products. Since then, the Company has fully cooperated with the relevant JFTC investigations.
The Company announced today that the JFTC has issued a cease-and-desist order and administrative surcharge payment order to the Company for violating the Antimonopoly Act of Japan.
We express our sincere regret for the concern this matter has caused our shareholders, customers, and other stakeholders. NSK regards the situation with the utmost seriousness and will take comprehensive measures to ensure strict compliance with all applicable laws and regulations during our corporate activities. We will devote every effort to restoring the trust of all stakeholders and the public.