Top of page. Skip to main contents. Skip to main menu. Skip to footer.

HOME > Notice > Plea Agreement with the United States Department of Justice Concerning Compressor and Condenser as Automotive Parts
Main contents start.

September 27, 2013

Plea Agreement with the United States Department of Justice Concerning
Compressor and Condenser as Automotive Parts

Tokyo (Japan) - Mitsubishi Heavy Industries, Ltd. ("MHI") concluded a plea agreement with the United States Department of Justice ("DoJ") on September 26, 2013 (U.S. Eastern Time) in which MHI agreed to make an admission of the factual basis for a violation of U.S. antitrust laws in connection with the sales of compressor and condenser automotive parts to certain customers. As part of the plea agreement, MHI has agreed to pay a fine of US$14,500,000.

Throughout the DoJ's investigation, MHI and its subsidiaries (collectively, the "MHI Group") have cooperated fully with the DoJ. MHI decided to enter into the plea agreement with the DoJ after comprehensive consideration of, among other things, the applicable laws and factual basis for this situation.

The fine will not affect MHI's consolidated financial forecast for the fiscal year ending March 31, 2014.

The MHI Group is and remains committed to compliance with all applicable laws and has responded to this situation seriously and vigilantly. And through these lessons learned, the MHI Group will continue to strengthen its commitment to compliance.

In addition, to emphasize the seriousness of these matters, MHI decided to take the following disciplinary actions:

Director (Member of the Board), Executive Vice President
Head of Air-Conditioning & Refrigeration Systems
Masahiko Arihara
Reprimand
Return 20% of Remuneration for 2 months

Executive Corporate Adviser
Kiyonobu Toma
Reprimand
Return 20% of Remuneration for 2 months
(Former Director (Member of the Board), Senior Vice President, Former Head of Air-Conditioning & Refrigeration Systems)
Return to top.
Page Top