Legal Liability Relating to Automotive Parts Cartels and Other Matters
First written in FY2016. 12 of 21 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2022: 1 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2024-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Damages settlement negotiations with certain automakers relating to the automotive parts cartel remain ongoing. - FY2023-Q3RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Damages settlement negotiations with certain automakers relating to the automotive parts cartel remain ongoing. - FY2023-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Damages settlement negotiations with certain automakers relating to the automotive parts cartel remain ongoing. - FY2022MitigatedAnnual report
「Settlements have already been reached with multiple plaintiffs, customers and others, and the Company believes that the potential financial impact of the ongoing matters described above on its financial results will not be significant.」
The Brazilian investigation, U.S. litigation and damages settlement negotiations relating to the automotive parts cartel remain ongoing, but the Company indicated that the potential financial impact is not expected to be significant following multiple settlements. - FY2022-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2021RestatedAnnual report
「The Company is under investigation by the Brazilian competition authorities in connection with the automotive parts cartel. In addition, the Company and its consolidated subsidiaries are defendants in class actions in the United States seeking damages arising from a series of automotive parts cartels, as well as actions brought by judicial authorities in certain U.S. states in connection with the automotive parts cartel.」
The Company reconfirms that the Brazilian authorities' investigation and the U.S. class actions and state-law violation litigation remain ongoing. - FY2021-Q3RestatedAnnual report
「The Company is under investigation by the Brazilian competition authorities in connection with the automotive parts cartel. In addition, Brazilian authorities had been investigating VISCAS, an equity-method affiliate of the Company, in connection with the power cable cartel. On 15 April 2020, the authorities decided to impose an administrative fine, which was paid, and the investigation was closed. In addition, the Company and its consolidated subsidiaries are defendants in class actions in the United States seeking damages arising from a series of automotive parts cartels, as well as actions brought by judicial authorities in certain U.S. states alleging violations of state law in connection with the automotive parts cartel.」
While reconfirming that the Brazilian authorities' investigation of VISCAS has ended, the Brazilian investigation and U.S. class actions and state-law violation litigation relating to the automotive parts cartel remain ongoing. - FY2021-Q2MitigatedAnnual report
「In addition, Brazilian authorities had been investigating VISCAS, an equity-method affiliate of the Company, in connection with the power cable cartel. On 15 April 2020, the authorities decided to impose an administrative fine, which was paid, and the investigation was closed. In addition, the Company and its consolidated subsidiaries are defendants in class actions in the United States seeking damages arising from a series of automotive parts cartels, as well as actions brought by judicial authorities in certain U.S. states alleging violations of state law in connection with the automotive parts cartel.」
The Brazilian authorities' investigation of VISCAS in connection with the power cable cartel ended following payment of the administrative fine. Meanwhile, U.S. litigation relating to the automotive parts cartel and the possibility of damages claims from customers remain outstanding. - FY2021-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2020MaterialisedAnnual report
「An investigation by the Brazilian authorities into ㈱ビスキャス, the Company's equity-method affiliate, in connection with a power cable cartel had been under way. On 15 April 2020, the authorities issued a decision imposing a surcharge, and the company decided to accept the decision.」
As litigation and damages settlement negotiations relating to the automotive parts cartel continue, Brazilian authorities have decided to impose an administrative fine on VISCAS in connection with the power cable cartel. - FY2020-Q3RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2020-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2019-Q3AdvancedAnnual report
「With respect to the class actions described above, the Company and its consolidated subsidiaries agreed in December 2017 to pay a settlement amount to direct-purchaser plaintiffs, some of the plaintiffs in the litigation, and on 27 November 2018 a court judgment granting final approval of the settlement agreement was issued.」
A court judgment granting final approval of the settlement agreement with direct-purchaser plaintiffs concerning the automotive parts cartel was issued on 27 November 2018. However, the possibility of other litigation and customer claims remains. - FY2019-Q2RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2019-Q1RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, the Company and its affiliates are negotiating damages with certain automakers.」
Negotiations over damages with certain automakers related to automotive parts cartels are continuing. - FY2018Settlement agreement entered into with direct purchasersAnnual report
「With respect to class actions filed in the U.S. concerning violations of U.S. antitrust law involving past transactions in automotive wire harnesses and related products, the Company and its consolidated subsidiary American Furukawa lnc. entered into a settlement agreement in May 2018 with direct-purchaser plaintiffs for the payment of a US$19 million settlement.」
A settlement agreement was entered into with direct-purchaser plaintiffs in the U.S. class actions, and an extraordinary loss of ¥2.1 billion, equivalent to the settlement amount, was recognized. However, the possibility of other litigation and claims remains. - FY2018-Q3Settlement agreement reached in certain class actionsAnnual report
「With respect to the class actions described above, the Company and its consolidated subsidiaries agreed in December 2017 to pay a settlement amount to direct-purchaser plaintiffs, some of the plaintiffs in the litigation.」
The disclosure states that in December 2017 an agreement was reached to pay a settlement amount to some of the direct-purchaser plaintiffs in the U.S. class actions. It continues to describe the possibility of other litigation and customer claims. - FY2017WorsenedAnnual report
「The Company is also subject to an investigation by the Brazilian competition authorities concerning automotive parts cartels. In addition, the Brazilian authorities are investigating ㈱ビスキャス, an equity-method affiliate of the Company, in connection with a power cable cartel.」
In addition to the previous litigation in the U.S. and Canada, the disclosure newly describes investigations by the Brazilian competition authorities into automotive parts and power cable cartels. - FY2017-Q2RestatedAnnual report
「In connection with violations of competition law arising from automotive wire harness cartels, multiple class actions seeking damages from a series of automotive parts cartels investigated by authorities in the U.S. and Canada have been filed, and the Company and its consolidated subsidiaries are defendants in litigation involving automotive wire harnesses and certain other automotive parts cartels.」
Class actions in the U.S. and Canada and negotiations with automakers over damages are continuing. - FY2017-Q1MaterialisedAnnual report
「With respect to class actions filed in the U.S. concerning violations of U.S. antitrust law involving past transactions in automotive wire harnesses and related products, the Company and its consolidated subsidiary American Furukawa Inc. entered into a settlement agreement in August 2016 with automobile dealer plaintiffs and end-purchaser plaintiffs, some of the plaintiffs in the litigation, for the payment of a US$56 million settlement.」
A US$56 million settlement agreement was entered into regarding the class actions. Court approval was required, and the disclosure states that a provision of ¥6.8 billion, equivalent to the settlement amount, had already been recognized for the fiscal year ended March 2016. - FY2016First statedAnnual report
「With respect to violations of U.S. antitrust law involving past transactions in automotive wire harnesses and related products, the Company and its consolidated subsidiary American Furukawa Inc. entered into a settlement agreement in May 2016 with major customers for the payment of a settlement amount of US$26.5 million.」
Cartel-related litigation, government investigations and customer claims actually arose, and the disclosure describes a ¥3.2 billion extraordinary loss and a US$26.5 million settlement.