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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
FOR IMMEDIATE RELEASE
Tokyo, August 5, 2019 --- Regarding today’s announcement by the Korea Fair Trade Commission (“KFTC”) concerning infringements of Korean
competition law in the trade of alternators, Hitachi Automotive Systems is committed to responding appropriately after
receiving official notification from the KFTC of its decision.
Hitachi Automotive Systems acknowledges and takes seriously that it was previously identified as having violated competition laws concerning the trading of certain automotive parts. Since July 2011, the company has been working to prevent any recurrence of these issues by improving its organization structure and regulations, enhancing education and auditing, and improving and expanding internal reporting systems, etc.
Moving forward, Hitachi Automotive Systems will work diligently to prevent any recurrence through thorough basic policies, a commitment to free and fair competition, as well as compliance with laws and regulations such as competition laws.
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan. The company is engaged in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, and offers a wide range of automotive systems including Powertrain Systems, Chassis Systems and Advanced Driver Assistance Systems. For more information, please visit the company's website at http://www.hitachi-automotive.co.jp/en/