On April 18, 2007 a Statement of Objections to AGC Automotive Europe and Asahi Glass was issued with regard to past activities of AGC Automotive Europe and the decision was adopted on November 12, 2008.
AGC Automotive Europe and Asahi Glass have cooperated with the Commission during all the phase of the investigation up to the decision. In order to secure a policy of strict compliance with competition rules, a new management team has been entrusted, educational training for antitrust laws have been reinforced, and certain senior executives of Asahi Glass voluntarily returned some of their Directors’ fees to show to each employee of the company how much seriously the managmeent of the company is considering the need to thoroughly implement compliance with laws, and the importance of sharing such values for the benefit of all members of the Group and its stakeholders.
After careful consideration, Asahi Glass has decided not to lodge an appeal against the decision before the Court of First Instance of the European Communities. To cover the risk of a fine, a reserve of 135 million Euro had been recorded for the fiscal year 2007.
AGC Group will continue to work to thoroughly implement compliance with laws and competition laws.