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2015

Sanden and the United States Department of Justice Reach Plea Agreement
January 28, 2015

Sanden Corporation (“Sanden”) entered into a plea agreement with the U.S. Department of Justice (“DOJ”), based on charges that it violated U.S. Antitrust law in connection with sales of compressors for automobile air conditioning systems.


Sanden has fully cooperated with the DOJ throughout its investigation. The company decided to enter into the plea agreement upon consideration of the relevant facts and circumstances, agreeing to pay a fine of US $3.2 million.


Consistent with its corporate philosophy, Sanden conducts its business activities in a spirit of compliance and a strong sense of ethics. In response to the situation, the company has taken measures to ensure full compliance with all relevant laws and regulations on an ongoing basis throughout its global organization.


The payment of the fine will be recorded as an extraordinary loss and will not have material impact on its consolidated financial forecast for the fiscal year ending March 31, 2015.