Epson Imaging Devices Corporation (gEpson Imagingh) today announced it had concluded a plea agreement with the United States Department of Justice concerning alleged price fixing with regards to a single customer for a single model of small TFT-LCD panel. Under the agreement, Epson Imaging will pay a fine of US$26 million (approximately 2.5 billion Japanese yen).
The United States Department of Justice has been investigating the pricing practices of the worldfs major TFT-LCD manufacturers since December 2006, and Epson Imaging has fully cooperated in this investigation. After careful consideration of the law, the facts and other factors, Epson Imaging has decided that the best course of action was to conclude the agreement with the United States Department of Justice.
Epson Imaging will record the amount as an extraordinary loss in the second quarter of fiscal year 2009 (ending March 2010). In consideration of the inconvenience caused to its customers, Epson Imagingfs directors will voluntarily adjust their remuneration.
Epson Imaging acknowledges the seriousness of this situation and will strengthen controls to improve compliance.
Media Contact
PR Group, Epson Imaging Devices Corporation
E-mail: www@epson-imaging.com
|
