Ongoing competition law matters and litigation concerning bearing transactions
First written in FY2017-Q1. 13 of 31 entries say "Materialised", first in FY2017-Q3. Latest entry: 2026-05-14.
Ntn moved to the "Worse" side of this theme in 2016.
1 other company's latest entry also says "Restated".
- 2026-05-14RestatedRevisions to earnings forecasts
「同年12月８日、ルノーは当該判決を不服としてパリ控訴裁判所(Cour d'appel de Paris)に控訴しました。2024年９月５日、ルノーは請求額を6,249万ユーロ（暫定額）に変更しました。」
第一審請求棄却後の控訴及び6,249万ユーロへの請求額変更を、従前の開示内容と同じく記載している。 - FY2026-H1RestatedAnnual report
「Our company and 2 consolidated subsidiaries in Europe had been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking damages on the grounds that Renault had suffered losses in connection with conduct violating European competition law dated 19 March 2014. The claim amounted to €58.30 million as of April 2022. On 10 November 2023, the court rendered a judgment dismissing Renault’s claim. On 8 December of the same year, Renault appealed the judgment to the Cour d’appel de Paris. On 5 September 2024, Renault changed its claim amount to €62.49 million (provisional amount).」
The company continues to disclose the appeal following the dismissal of Renault’s claim at first instance and the change in the claim amount to €62.49 million. - FY2025MitigatedAnnual report
「We had been discussing damages with certain customers in connection with investigations and other matters concerning violations of antitrust laws by the authorities in various countries. After comprehensively considering the potential impact of prolonged negotiations on our business and other factors, we determined that an early and amicable resolution would serve the overall interests of both parties and decided to pay a settlement amount.」
The company decided to pay a settlement amount in connection with competition-law-related discussions with certain customers and recorded an antitrust-related loss of ¥909 million. The Renault litigation and other matters remain ongoing separately. - FY2025-H1WorsenedAnnual report
「On 5 September 2024, Renault changed its claim amount to €62.49 million (provisional amount).」
Renault’s damages claim increased from the previous amount of €58.30 million to €62.49 million. The appeal before the Cour d’appel de Paris also remains ongoing. - FY2024-Q3MitigatedAnnual report
「Our company and 2 consolidated subsidiaries in Europe had been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking damages on the grounds that Renault had suffered losses in connection with conduct violating European competition law that was the subject of the European Commission decision dated 19 March 2014. The claim amounted to €58.30 million as of April 2022. On 10 November 2023, the court rendered a judgment dismissing Renault’s claim. On 8 December of the same year, Renault appealed the judgment to the Cour d’appel de Paris.」
In the €58.30 million damages claim brought by Renault, the court of first instance rendered a judgment dismissing the claim. Renault has appealed, and the litigation itself remains ongoing. - FY2024-Q2RestatedAnnual report
「Our company and 2 consolidated subsidiaries in Europe have been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking payment of damages of €66.70 million (provisional amount). Renault changed its damages claim from €32.50 million (provisional amount) in December 2020 to €58.30 million (provisional amount) in April 2022.」
The company continues to disclose the background to Renault’s damages litigation and its damages claim of €58.30 million (provisional amount). The possibility of future antitrust-related claims is also stated. - FY2024-Q1RestatedAnnual report
「(1) Our company and 2 consolidated subsidiaries in Europe have been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking payment of damages of €66.70 million (provisional amount). Renault changed its damages claim from €32.50 million (provisional amount) in December 2020 to €58.30 million (provisional amount) in April 2022.」
The company continues to disclose Renault’s damages claim of €58.30 million (provisional amount) and the possibility of future antitrust-related claims. No new developments in the litigation have been disclosed. - FY2023RestatedAnnual report
「Renault changed its damages claim from €32.50 million (provisional amount) in December 2020 to €58.30 million (provisional amount) in April 2022.」
The company continues to disclose Renault’s damages claim of €58.30 million (provisional amount) and the possibility of future antitrust-related claims. - FY2022WorsenedAnnual report
「Renault changed its damages claim from €32.50 million (provisional amount) in December 2020 to €58.30 million (provisional amount) in April 2022.」
In the competition-law-related litigation brought by Renault, the damages claim changed from €32.50 million to €58.30 million. An antitrust-related loss of ¥2,928 million was also recorded. - FY2022-Q3MitigatedAnnual report
「Following negotiations with the plaintiffs, we determined that an early settlement would be the best course of action and decided to settle. As a result, the plaintiffs applied to withdraw the action against our group, and on 5 January 2022 local time, the Competition Appeal Tribunal in the United Kingdom approved the application. The action against our group was thereby concluded.」
In addition to the closure of the Competition Commission of India’s investigation, the UK litigation brought by FCA, now Stellantis, and its group companies was concluded through a settlement. Meanwhile, the litigation brought by Renault and the possibility of future damages claims remain. - FY2022-Q2MitigatedAnnual report
「We received a decision from the Competition Commission of India stating that no violation of India’s competition law had been found and that the investigation into our overseas bearing transactions, which had been subject to investigation by the authorities on suspicion of violating competition law, would be closed. As a result of this decision, the legal risk described in “(2) Risks Related to Business Operations, 6) Legal and Regulatory Matters, ①” of the securities report for the previous fiscal year has been extinguished.」
The Competition Commission of India found no violation of competition law and closed its investigation, extinguishing the relevant legal risk described in the previous fiscal year. - FY2022-Q1WorsenedAnnual report
「In connection with transactions involving bearings overseas, we are subject to an investigation by the authorities in India on suspicion of violating competition law.」
Regarding competition-law-related risks, an investigation by the authorities in India was disclosed in addition to the previous investigations in Brazil and elsewhere and litigation in Europe and the United States. Antitrust-related payments of ¥192 million were also recorded. - FY2021MaterialisedAnnual report
「In March of this year, the Administrative Council for Economic Defense of Brazil decided to impose a fine of 9,318,311.31 Brazilian reais on our Brazilian consolidated subsidiary for violating Brazil’s competition protection law in connection with transactions involving bearings in Brazil. We paid the full amount in May of this year.」
A decision was made to impose a fine on the Brazilian subsidiary, and the full amount was paid. Meanwhile, the US class action was concluded through a settlement in November 2020, and Renault’s claim amount changed to €32.50 million. - FY2021-Q3MitigatedAnnual report
「As this settlement agreement will bring all class actions in the United States to an end, the risk described in “(2) Risks Related to Business Operations, 6) Legal and Regulatory Matters, ②” of the securities report for the previous fiscal year has been extinguished.」
We agreed to a settlement with direct purchasers in the class action filed in the US District Court for the Eastern District of Michigan. As a result, all class actions in the United States will be concluded and the relevant legal risk has been extinguished. Investigations by authorities in Brazil and elsewhere and litigation brought by Renault and FCA remain ongoing separately. - FY2021-Q2MaterialisedAnnual report
「In addition, our company and 2 consolidated subsidiaries in Europe have been sued in the Commercial Court in the United Kingdom by Fiat Chrysler Automobiles N.V. and 7 group companies of Fiat Chrysler Automobiles N.V. seeking damages. The action was transferred to the Competition Appeal Tribunal on 14 July 2020.」
The transfer of FCA’s European competition-law litigation represented a procedural development. A competition-law-related loss of ¥76 million and related payments of ¥76 million were also recorded, indicating that the legal burden remains ongoing. - FY2021-Q1MaterialisedAnnual report
「In connection with transactions involving bearings overseas, our consolidated subsidiaries in Brazil and elsewhere are subject to investigations by the authorities on suspicion of violating competition law. In addition, our company and its consolidated subsidiaries in the United States and elsewhere have been sued in multiple civil actions in the United States on allegations that they jointly decided with other companies to raise the selling prices of bearings.」
The company has disclosed that investigations by authorities in Brazil and elsewhere, multiple civil actions in the United States, and litigation in Europe brought by Renault and FCA remain ongoing. - FY2020-Q3MaterialisedAnnual report
「In connection with these settlements and other matters, ¥690 million was recorded as an antitrust-related loss for the cumulative third quarter of the current fiscal year, and ¥2,091 million was recorded for the cumulative third quarter of the previous fiscal year.」
An antitrust-related loss of ¥690 million was recorded in connection with settlements with certain customers and other matters. ¥1,210 million in antitrust-related payments was also recorded as a use of cash in operating activities. - FY2020-Q2MaterialisedAnnual report
「Antitrust-related loss ¥687 million」
An antitrust-related loss of ¥687 million was recorded, and ¥678 million in antitrust-related payments was also recorded as a use of cash in operating activities. Investigations by authorities in Brazil and elsewhere, civil litigation in the United States, Canada and elsewhere, and European litigation brought by Renault and FCA remain ongoing. - FY2020-Q1RestatedAnnual report
「Our company and 2 consolidated subsidiaries in Europe have been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking payment of damages of €66.70 million (provisional amount). In addition, our company and 2 consolidated subsidiaries in Europe have been sued in the Commercial Court in the United Kingdom by Fiat Chrysler Automobiles N.V. and 7 group companies of Fiat Chrysler Automobiles N.V. in total, collectively referred to below as “FCA,” seeking damages.」
The continuation of damages litigation in Europe brought by Renault and FCA is reiterated. - FY2019WorsenedAnnual report
「Our company and 2 consolidated subsidiaries in Europe have been sued in the Tribunal de Commerce de Lyon by Renault S.A. and 15 group companies of Renault in total, collectively referred to below as “Renault,” seeking payment of damages of €66.70 million (provisional amount). In addition, our company and 2 consolidated subsidiaries in Europe have been sued in the Commercial Court in the United Kingdom by Fiat Chrysler Automobiles N.V. and 7 group companies of Fiat Chrysler Automobiles N.V. in total, collectively referred to below as “FCA,” seeking damages.」
In addition to investigations by authorities in Brazil and elsewhere and civil litigation in the United States and Canada, damages litigation brought by Renault and FCA in Europe has been disclosed, indicating increased legal exposure related to competition law. - FY2019-Q3MaterialisedAnnual report
「In connection with this settlement, ¥2,091 million was recorded as an antitrust-related loss under extraordinary losses for the cumulative third quarter of the fiscal year.」
An antitrust-related loss of ¥2,091 million was recorded in connection with settlements with certain customers, and ¥4,541 million in antitrust-related payments was also recorded as a use of cash in operating activities. Investigations by authorities in Brazil and elsewhere and civil litigation in the United States, Canada and elsewhere remain ongoing. - FY2019-Q2MaterialisedAnnual report
「Antitrust-related payments △ ¥3,557 million」
The ¥3,557 million in antitrust-related payments was recorded as a use of cash in operating activities, indicating that costs associated with the competition-law matters had been paid. Investigations by authorities in Brazil and elsewhere and civil litigation in the United States, Canada and elsewhere also remain ongoing. - FY2019-Q1MaterialisedAnnual report
「In connection with transactions involving bearings overseas, our consolidated subsidiaries in Brazil and elsewhere are subject to investigations by the authorities on suspicion of violating competition law.」
Investigations by competition authorities into subsidiaries in Brazil and elsewhere, as well as civil litigation in the United States, Canada and elsewhere, remain ongoing. In addition, ¥3,557 million in antitrust-related payments was recorded as a use of cash in operating activities during the quarter. - FY2018MaterialisedAnnual report
「In connection with the settlement and other matters, ¥3,710 million was recorded as an antitrust-related loss under extraordinary losses for the current fiscal year, and ¥12,128 million was recorded for the previous fiscal year.」
An antitrust-related loss of ¥3,710 million was recorded for the current year. Meanwhile, claims against us by Peugeot S.A. and others were withdrawn in April 2018, but civil litigation in the United States and Canada, investigations by authorities in Brazil and elsewhere, and hearing proceedings concerning the basis for calculating the surcharge remain ongoing. - FY2018-Q3MaterialisedAnnual report
「In the criminal proceedings, the Supreme Court decided in December 2017 to dismiss our appeal, thereby finalizing the guilty verdict handed down by the Tokyo District Court in February 2015. Following the Supreme Court’s decision, we withdrew in December 2017 our request for a hearing concerning the Japan Fair Trade Commission’s cease-and-desist order. Regarding the surcharge payment order, we withdrew our arguments concerning whether the Antimonopoly Act had been violated, but continued the hearing proceedings and maintained our arguments concerning the basis for calculating the surcharge.」
The guilty verdict became final after the Supreme Court dismissed the appeal, and the request for a hearing concerning the cease-and-desist order was withdrawn. The hearing proceedings concerning the basis for calculating the surcharge under the surcharge payment order remain ongoing. - FY2018-Q2MaterialisedAnnual report
「The main components were depreciation and amortization of ¥18,454 million, quarterly net income before income taxes and other adjustments of ¥13,641 million, and a ¥5,085 million decrease in trade receivables, which were sources of cash, offset by a ¥8,405 million decrease in liabilities payable in connection with antitrust-related losses, which was a use of cash.」
The ¥8,405 million decrease in liabilities payable in connection with antitrust-related losses was recorded as a use of cash in operating activities, indicating that the related burden had been paid. - FY2018-Q1MitigatedAnnual report
「Overseas, in June 2017, a consolidated subsidiary in South Korea received notice from the Korea Fair Trade Commission that its review procedure had been completed with a finding of no violation concerning certain transactions involving automotive bearings in the Korean market. Meanwhile, consolidated subsidiaries in Brazil and elsewhere remain subject to investigations by the authorities.」
The Korean subsidiary received notice that the Korea Fair Trade Commission’s review procedure had been completed, while investigations by the authorities remain ongoing in Brazil and elsewhere. - FY2017MaterialisedAnnual report
「In connection with these settlements, ¥12,128 million was recorded as an antitrust-related loss under extraordinary losses for the fiscal year.」
An antitrust-related loss of ¥12,128 million was recorded for the full year in connection with the US civil litigation and settlements with certain customers. The domestic administrative proceedings and appeals, as well as damages claims by the PSA Group, among other matters, remain ongoing. - FY2017-Q3MaterialisedAnnual report
「With respect to the litigation in the United States, we reached a settlement agreement in November 2016 with indirect purchasers, some of the plaintiffs. In connection with this settlement, ¥1,134 million was recorded as an antitrust-related loss under extraordinary losses for the cumulative third quarter of the fiscal year.」
A settlement was reached in some of the US civil litigation, and an antitrust-related loss of ¥1,134 million was recorded. An appeal in the domestic case and damages litigation brought by the PSA Group, among other matters, remain ongoing. - FY2017-Q2WorsenedAnnual report
「In the criminal proceedings, the Company had appealed the guilty verdict handed down by the Tokyo District Court in February of the previous year, but an appellate judgment dismissing the appeal was handed down in March of the current year. Because the Company and its former officer disagreed with the judgment, they appealed to the Supreme Court of Japan.」
An adverse judicial decision dismissing the appeal was issued, and an appeal has been filed with the Supreme Court of Japan. In addition, Peugeot S.A. and others have filed damages lawsuits seeking €507.8 million, indicating that competition-law-related risks are progressing and expanding. - FY2017-Q1First statedAnnual report
「In June 2012, the Company and a former officer were indicted by the Tokyo District Public Prosecutors Office on suspicion of violating the Antimonopoly Act in connection with domestic bearing transactions. In March 2013, the Company received a cease-and-desist order and a surcharge payment order of ¥7,231 million from the Japan Fair Trade Commission. Because the Company's understanding differed from the factual findings underlying these orders, it filed a request for a hearing in April of the same year to contest both orders, and the hearing proceedings began in September of that year.」
Multiple competition-law-related matters have been disclosed, including a domestic antitrust matter, investigations by overseas authorities, civil lawsuits in the United States and Canada, and claims for damages in Europe. A surcharge of ¥7,231 million is reported, and prosecution, regulatory orders and litigation have already occurred.