Decision by NDRC, China due to the violation of Chinese antitrust law
The National Development and Reform Commission (NDRC) announced in China today (December 28, 2015) that several companies including MOL have breached Chinese antitrust law with respect to car carrier services and were imposed fines. MOL, by its cooperation to NDRC's investigation, received reduction of fine and the amount of fine is CNY 38,121,100.- (about JPY 734 million), MOL said Monday in a news release.
MOL and other shipping companies have been investigated for by the NDRC due to the suspicion of antitrust law violation. MOL has fully cooperated with the NDRC during investigations.
MOL take the NDRC's decision seriously and regret that MOL's being investigated by the NDRC and imposed fine could worry MOL's shareholders, customers and relevant parties. MOL recognizes that compliance with laws and regulations including antitrust laws has the utmost priority in our business, MOL have taken measures to ensure compliance with antitrust laws by further developing preventive measures and announcing and educating the relevant rules their officers and employees about the relevant rules firmly.
MOL will continue their endeavor to adhere to the above measures in order to assure the prevention of reoccurrence and to recover our stakeholders' confidence.