KARIYA (Japan)—The Korea Fair Trade Commission (the “KFTC”) announced today an order to rectify illegal conduct and impose a surcharge on certain automotive suppliers pursuant to the Monopoly Regulation and Fair Trade Act, in connection with sales of automotive compressors. 
The KFTC’s announcement includes a 3,704 million won (approximately US$ 3.3 million) surcharge to DENSO Corporation.

Since DENSO has an objection to findings of the investigation and application of laws and regulations, it is planning to file a protest against the KFTC’s decision.

It is DENSO’s policy to comply with all applicable antimonopoly laws. Since learning of the investigation that was conducted at its U.S. subsidiary by the U.S. Department of Justice in February 2010, DENSO group companies have been taking various preventive measures, including implementing more stringent compliance rules, more enhanced compliance training and more meticulous compliance monitoring, in order to further ensure that they comply with all applicable antimonopoly laws. DENSO believes that it has remained in complete compliance with all antimonopoly laws.

DENSO is committed to compliance with all applicable antimonopoly laws around the world.