Tokyo, Japan, March 8, 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 its 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 it received advance notice of the draft cease and desist order and the draft administrative surcharge payment order (the "Advance Notice") by the JFTC for its violation of the Antimonopoly Act of Japan.
We will examine the details of the Advance Notice and consider our response carefully after receiving the JFTC's explanation on the applicable evidence and other related matters.
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 gravity 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.