Notice Regarding Recent News Report
There were some new reports in Korea, Japan and elsewhere that the Soul Central District Prosecutors' Office has officially brought a charge against Minebea Co., Ltd. ("Minebea") and its Korean subsidiary.
As of today, Minebea as well as its attorney's offices have not received any official documents related to an indictment and therefore have not confirmed any details of the charge.
However, we recognize this matter to be a progress of a series of cases reported in our "Announcement of the Korea Fair Trade Commission on the Trading of Small-sized Ball Bearings" dated November 17, 2014. We also understand that the Korea Fair Trade Commission ("KFTC") ordered Minebea to pay a surcharge of approximately 4,912 million Korean won (around 500 million yen), the payment of which had already been completed, and that the said criminal charge was brought separately apart from the surcharge.
We are informed that the upper limit of the fine in respect of this criminal charge in Korea amounts to 200 million Korean won per case. Since the charge is brought against two entities, namely Minebea, a parent company in Japan, and its Korean sales subsidiary, there is a possibility that the maximum fine of up to 400 million Korean won (approximately 40 million yen) may be ordered by the Korean authority. There is no change to the full-year business forecast for the fiscal year ending March 31, 2016 even in the case of a payment of the maximum amount of fine.
| Media Inquiries: | Minebea Co., Ltd. Corporate Communications Office Phone: +81-(0)3-6758-6703 FAX: +81-(0)3-6758-6718 |
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