Hearing request for cease and desist order and surcharge payment order from Japan Fair Trade Commission

NTN Corporation (hereafter, NTN) received a cease and desist order and surcharge payment order from the Japan Fair Trade Commission (hereafter, the JFTC) on March 29, 2013 after the JFTC had come to conclusion that NTN had violated the Article 3 of the Japan Antimonopoly Act (prohibited unreasonable restraint of trade) related to the sale of bearings.

NTN carefully assessed and checked the content of these orders, and believes that there was no violation of the Japan Antimonopoly Act that governs each order, and that it could not accept the terms raised. Today, NTN makes a hearing request to the JFTC.

At this hearing NTN will outline its stance and request that a fair decision be made.