Tokyo, Japan, February 25, 2013 – NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced that the company was sentenced to a penalty of JPY380 million by the Tokyo District Court for violation of the Antimonopoly Act of Japan regarding sales of bearing products as a result of the June 14, 2012 prosecution by the Tokyo District Public Prosecutors Office.
In addition, two of NSK's former officers and a former employee received suspended sentences.
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.
The impact of the ruling on NSK's financial results is expected to be insignificant.