Korea Fair Trade Commission’s Announcement


To whom it may concern:
On June 26, 2017 (Korean Standard Time), JTEKT CORPORATION (“JTEKT”) received a
decision from the Korea Fair Trade Commission (“KFTC”) that there was a violation of the
Monopoly Regulation and Fair Trade Act of the Republic of Korea in connection with certain
past sales of bearings for the automobile industry in Korea. Under the decision, JTEKT was
issued a remedial order and imposed a surcharge of 533 million Korean Won (approximately
52 million Yen).
However, as a result of JTEKT’s full cooperation with the KFTC’s investigation, the
surcharge is expected to be exempted.
This decision has stemmed from the facts revealed pursuant to JTEKT’s cooperation with
the KFTC’s investigation since July 2011 and not from any other conduct subsequent to that
timing. Nevertheless, we sincerely regret for any concern that may have been caused to our
shareholders, customers, and other stakeholders in relation to this matter.
As we treat this matter with utmost seriousness, we will take appropriate measures to prevent recurrence and make further efforts to ensure compliance with all applicable laws and regulations.
The decision does not and will not have any impact on JTEKT’s financials.
Fuente: Jtekt