Feb. 9, 2018
On July 26, 2016, TDK Corporation (President: Shigenao Ishiguro) had an on-site inspection by Japan Fair Trade Commission (the “JFTC”) regarding our HDD suspension business. In connection with this, TDK Corporation has extended full cooperation to the inspections and investigations by the JFTC.
Today, the JFTC officially announced that they issued the cease-and-desist order and the surcharge payment order against the manufacturer of HDD suspensions under the Anti-Monopoly Act in Japan regarding the HDD suspension business.
TDK group is exempted from any surcharges and also has received no cease-and-desist order pursuant to an application for leniency..
TDK as well as TDK group as a whole have responded to this experience by working to develop a compliance structure to oversee the entire TDK group with the aim of further reinforcing our compliance with the laws and regulation. Going forward, we will pursue these efforts with increased vigor and speed and will strive to restore the trust of our customers and stakeholders.
About TDK Corporation
TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's portfolio includes passive components, such as ceramic, aluminum electrolytic and film capacitors, ferrites and inductors, high-frequency products, and piezo and protection components, as well as sensors and sensor systems and power supplies. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK's further main product groups include magnetic application products, energy devices, and flash memory application devices. TDK focuses on demanding markets in the areas of information and communication technology and automotive, industrial and consumer electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2017, TDK posted total sales of USD 10.5 billion and employed about 100,000 people worldwide.
|Y. Ohsuga||TDK Corporation