Mitsubishi Electric to comply with surcharge payment order

Mitsubishi Electric Corporation has announced today that it received an order from Republic of China's National Development and Reform Commission (NDRC),on August 19, for payment of a surcharge amounting to 44.88 million yuan, or approximately 700 million yen.

The payment is for infringement of Republic of China's Antimonopoly Act Article 13, which concerns monopoly agreements regarding prices, in connection with certain automotive parts sold by the company in the past.

Mitsubishi Electric has been cooperating with the NDRC investigation, which was launched on May 6, 2014.

The company said it will comply with the order and also reconfirms that compliance measures are thoroughly implemented as part of its efforts to recover public trust.



Story provided by StockMarketWire.com

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