U.S. Government Authorities’ Investigation into Panasonic Avionics under the FCPA and Securities Laws
First written in FY2017-Q3. 3 of 7 entries say "Restated". Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「The Company and its US subsidiary Panasonic Avionics Corporation (hereinafter, “PAC”) had been investigated by the US Securities and Exchange Commission and the US Department of Justice (hereinafter, the “US government authorities”) pursuant to the Foreign Corrupt Practices Act and US securities laws regarding certain transactions between PAC and airlines and activities involving agents and consultants in connection with those transactions. In May 2018, the Company and PAC agreed with the US government authorities to pay penalties and subsequently paid them. The matter had no material impact on profit or loss for the nine-month period ended December.」
Reconfirmed that the US authorities’ investigation of Panasonic Avionics had been resolved through completion of the penalty payment and that the matter had no material impact on profit or loss for the nine-month period ended December. - FY2019-Q1MitigatedAnnual report
「In May 2018, the Company agreed with the US government authorities to pay penalties and subsequently paid them. The matter had no material impact on profit or loss for the nine-month period ended December.」
The Company disclosed that payment of the penalties related to the FCPA and US securities law investigations of Panasonic Avionics had been completed. - FY2018MitigatedAnnual report
「In May 2018, the Company agreed with the US government authorities to make payments totaling US$280,602,830.93.」
The Company disclosed an agreement to pay a total of US$280,602,830.93 in connection with the FCPA and US securities law investigations. - FY2018-Q2RestatedAnnual report
「The Company’s US subsidiary Panasonic Avionics Corporation is under investigation by the US Department of Justice and the US Securities and Exchange Commission (hereinafter, the “US government authorities”) in connection with its avionics business, pursuant to the Foreign Corrupt Practices Act and US securities laws, and is holding discussions with the US government authorities toward a resolution.」
Reconfirmed that the US government authorities’ investigations of Panasonic Avionics concerning the FCPA and US securities laws, and discussions toward a resolution, remain ongoing. - FY2018-Q1RestatedAnnual report
「The Company’s US subsidiary Panasonic Avionics Corporation is under investigation by the US Department of Justice and the US Securities and Exchange Commission (hereinafter, the “US government authorities”) in connection with its avionics business, pursuant to the Foreign Corrupt Practices Act and US securities laws, and is holding discussions with the US government authorities toward a resolution.」
Reconfirmed that the US government authorities’ investigations of Panasonic Avionics concerning the FCPA and US securities laws, and discussions toward a resolution, remain ongoing. - FY2017MaterialisedAnnual report
「The litigation-related losses comprise losses related to antitrust laws, the Foreign Corrupt Practices Act and US securities laws, among others. The Company’s US subsidiary Panasonic Avionics Corporation is under investigation by the US Department of Justice and the US Securities and Exchange Commission in connection with its avionics business, pursuant to the Foreign Corrupt Practices Act and US securities laws, and is holding discussions with the US government authorities toward a resolution.」
The FCPA and US securities law investigations remained ongoing, and related losses of ¥23,013 million were recognized. - FY2017-Q3First statedAnnual report
「The Company’s US subsidiary Panasonic Avionics Corporation is under investigation by the US Department of Justice and the US Securities and Exchange Commission (hereinafter, the “US government authorities”) in connection with its avionics business, pursuant to the Foreign Corrupt Practices Act and US securities laws, and has begun discussions with the US government authorities toward a resolution.」
The Company disclosed the investigations by the US Department of Justice and the US Securities and Exchange Commission into Panasonic Avionics’ avionics business and the commencement of discussions toward a resolution.