Competition law risks materialize in connection with transactions involving aluminum electrolytic capacitors
First written in FY2016. 14 of 36 entries say "Restated". Latest entry: FY2026.
Nippon Chemi-Con moved to the "Worse" side of this theme in 2018.
0 other companies' latest entry also says "Achieved".
- FY2026AchievedAnnual report
「As a result of the mediation settlement with the Taiwan Fair Trade Commission, all litigation relating to alleged violations of competition law concerning transactions in aluminum electrolytic capacitors and other products involving the Company’s group companies as parties, including this matter, has been concluded.」
Mediation with the Taiwan Fair Trade Commission was completed on 13 January 2026, concluding all litigation related to competition-law violations. The Company received a refund of ¥1,648 million as part of the penalties and recognized an extraordinary gain. - FY2025MitigatedAnnual report
「Upon the settlement taking effect, of the civil lawsuits brought to date in various countries against the Group seeking damages and other relief in connection with transactions involving aluminum electrolytic capacitors and other products, only one unresolved case, filed in Taiwan, will remain. The Company believes that no material loss will arise.」
The Company entered into a US$3.5 million settlement agreement concerning litigation related to Israeli competition law and is awaiting court approval. Subject to the settlement taking effect, the disclosure states that the only unresolved civil lawsuit will be the one case in Taiwan. - FY2025-H1RestatedAnnual report
「The Group has civil lawsuits pending with several plaintiffs seeking damages and other relief in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to recognize the risk that pending civil lawsuits with several plaintiffs in connection with the competition-law matters may affect operating results and other aspects of performance. - FY2024WorsenedAnnual report
「Antitrust-related loss ¥29,604 million The principal outflow was an antitrust-related payment of ¥32,907 million.」
Although all U.S. civil lawsuits have been concluded, the Company recognized an antitrust-related loss of ¥29,604 million for the fiscal year, and antitrust-related payments reached ¥32,907 million. The disclosure states that civil lawsuits remain pending with several plaintiffs in other countries. - FY2024-Q3RestatedAnnual report
「As a result, all civil lawsuits brought in the United States against the Company Parties seeking damages and other relief for alleged violations of U.S. antitrust laws involving electrolytic and film capacitors have been concluded.」
The Company continues to confirm the settlement payments to Arrow Electronics and others, the release of the judgment debt and the conclusion of all U.S. civil lawsuits from the previous quarter. At the same time, the notes state that several civil lawsuits remain pending in other countries. - FY2024-Q2MitigatedAnnual report
「After comprehensively considering all relevant circumstances, the Company Parties also agreed in September 2023 to pay an aggregate settlement amount of US$75 million to Arrow Electronics, Inc., one of the several plaintiffs referred to above, and paid the settlement amount. As a result, all civil lawsuits brought in the United States against the Company Parties seeking damages and other relief for alleged violations of U.S. antitrust laws involving electrolytic and film capacitors have been concluded.」
Although a US$75 million settlement payment was made to Arrow Electronics and others, all civil lawsuits filed in the United States have been concluded, and the obligations to pay US$150.677 million and other amounts under the Avnet judgment were released. The disclosure does not state that the overall risk has disappeared, as civil lawsuits remain pending in other countries. - FY2024-Q1Transition to a settlement involving release of the judgment debtAnnual report
「The Group had been subject to investigations by competition-law authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. All such investigations have now ended, and payments of penalties and other amounts ordered as a result of the investigations have also been completed. Civil lawsuits arising from these matters remain pending with several plaintiffs. These matters may affect the Group's operating results and other aspects of its financial performance. The Company and its subsidiary United Chemi-Con, Inc. (collectively, the "Company Parties") agreed in July 2023, after comprehensively considering all relevant circumstances, to pay an aggregate settlement amount of US$125 million to Avnet, Inc. and 3 individual plaintiffs among the several plaintiffs in pending U.S. civil lawsuits concerning transactions involving electrolytic and film capacitors. As a result, the Company Parties were released from their obligation to pay US$150.677 million arising under the judgment in the civil lawsuit with Avnet, Inc., as well as Avnet, Inc.'s attorneys' fees.」
Although all investigations by competition authorities and payments of penalties and other amounts have ended, civil lawsuits remain pending. The aggregate US$125 million settlement with Avnet and others resulted in the release of the previous US$150.677 million judgment debt and related obligations. An antitrust-related loss of ¥18,123 million was recognized for the quarter. - FY2023WorsenedAnnual report
「In May 2023, in the civil lawsuit against Avnet, Inc., one of the plaintiffs that did not participate in the direct-purchaser class, a jury in the U.S. District Court for the Northern District of California returned a verdict finding damages of US$89.2 million against the Company Parties. In June of the same year, the court ordered the Company Parties to pay US$150.677 million, calculated by applying the statutory treble-damages multiplier to the damages awarded by the verdict and deducting the aggregate settlement amounts paid by the other defendants in the civil lawsuit.」
Competition-law risk resulted in a jury verdict finding damages of US$89.2 million and a judgment ordering payment of US$150.677 million in the Avnet lawsuit. The disclosure also covers a settlement agreement for CAD 21.3 million with a Canadian class-action plaintiff group, indicating that the legal and financial burden has increased. - FY2023-Q3RestatedAnnual report
「The Company and its subsidiary United Chemi-Con, Inc. (collectively, the "Company Parties") have settled with the class plaintiffs in U.S. class-action civil lawsuits concerning transactions involving electrolytic and film capacitors, including direct-purchaser and indirect-purchaser classes. Separately, civil lawsuits remain pending with several plaintiffs who did not participate in the direct-purchaser class. In July 2022, although the Company Parties did not admit liability for damages or other relief, they agreed, after comprehensively considering all relevant circumstances, to pay a settlement amount of US$31.5 million to some of those plaintiffs.」
The Company continues to disclose the US$31.5 million settlement agreement with some of the plaintiffs who did not participate in the class action. An antitrust-related loss of ¥4,305 million was also recognized for the nine months ended the third quarter. - FY2023-Q2MaterialisedAnnual report
「In July 2022, although the Company Parties did not admit liability for damages or other relief, they agreed, after comprehensively considering all relevant circumstances, to pay a settlement amount of US$31.5 million to some of those plaintiffs. In connection with this, the Company recognized an antitrust-related loss as an extraordinary loss. The principal outflow was an antitrust-related payment of ¥12,775 million.」
The disclosure covers an agreement to pay a US$31.5 million settlement to some of the plaintiffs in a settlement separate from the existing class action, recognition of an antitrust-related loss of ¥4,305 million and a payment of ¥12,775 million, indicating that competition-law risk had materialized as an additional settlement, loss and cash outflow. - FY2023-Q1MaterialisedAnnual report
「The Company and its subsidiary United Chemi-Con, Inc. (collectively, the "Company Parties") have settled with the class plaintiffs in U.S. class-action civil lawsuits concerning transactions involving electrolytic and film capacitors, including direct-purchaser and indirect-purchaser classes. Separately, civil lawsuits remain pending with several plaintiffs who did not participate in the direct-purchaser class. In July 2022, although the Company Parties did not admit liability for damages or other relief, they agreed, after comprehensively considering all relevant circumstances, to pay a settlement amount of US$31.5 million to some of those plaintiffs.」
Separately from the existing class-action settlement, the Company Parties agreed to pay a US$31.5 million settlement amount to some of the plaintiffs who did not participate in the direct-purchaser class, causing competition-law risk to materialize as a new settlement. The disclosure also states that liability for payment was not admitted. The consolidated income statement includes an antitrust-related loss of ¥4,305 million. - FY2022MaterialisedAnnual report
「With respect to the U.S. class-action civil lawsuit brought by a direct-purchaser plaintiff class seeking damages and other relief, the Company and its subsidiary did not admit liability for damages or other relief. However, after comprehensively considering all relevant circumstances, they decided in December 2021 to settle with the direct-purchaser plaintiff class for a settlement payment of US$160 million. In March 2022, they entered into a formal settlement agreement, which will take effect formally following the court approval procedure.」
Regarding the settlement with the direct-purchaser plaintiff class decided in the previous fiscal year, the Company entered into a formal settlement agreement in March 2022 for a settlement payment of US$160 million and disclosed that it was awaiting court approval. - FY2022-Q3MaterialisedAnnual report
「On 15 December 2021 (14 December U.S. local time), the Company and its subsidiary United Chemi-Con, Inc. did not admit liability for damages or other relief in connection with the filing of a class-action civil lawsuit in the U.S. District Court for the Northern District of California concerning alleged violations of U.S. antitrust laws involving electrolytic and film capacitors. However, after comprehensively considering all relevant circumstances, they decided to settle with the direct-purchaser plaintiff class. The settlement will take effect formally following the court approval procedure.」
The Company decided to settle with the U.S. direct-purchaser plaintiff class and was awaiting court approval. In connection with this, it recognized an antitrust-related loss of ¥18,403 million as an extraordinary loss, indicating that competition-law risk had materialized as a new settlement and loss. - FY2022-Q2RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results. No new penalties or losses are indicated in the text this time. - FY2022-Q1RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results and other aspects of its financial performance. - FY2021WorsenedAnnual report
「Among these matters, the U.S. class-action civil lawsuit brought by a direct-purchaser plaintiff class seeking damages and other relief is the lawsuit most likely to have a material impact on the Group's operating results and financial position, given the plaintiff class's transaction volume involving the Group's products. A new trial in the lawsuit is scheduled to be held again in November of this year.」
The Company identifies the pending U.S. direct-purchaser class-action civil lawsuit as the lawsuit that could have the most material impact in connection with the competition-law matters and discloses that a retrial was scheduled for November 2021. - FY2021-Q3RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results. No new penalties or losses are indicated in the income statement for the quarter. - FY2021-Q2MaterialisedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The general disclosure concerning investigations and other actions by competition authorities continues. In addition, the consolidated statement of cash flows for the six months ended the second quarter includes ¥888 million in antitrust-related payments, indicating that cash outflows associated with past competition-law matters are continuing. - FY2021-Q1RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results and other aspects of its financial performance. - FY2020-Q3RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results. The quarterly consolidated income statement includes an antitrust-related loss of ¥79 million. - FY2020-Q1RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance.」
The Company continues to disclose investigations and other actions by competition authorities in various countries and the possibility of an impact on operating results and other aspects of performance. No new penalties or losses are indicated in the text. - FY2019-Q3MaterialisedAnnual report
「The Company had decided to enter into a plea agreement with the U.S. Department of Justice providing for, among other matters, payment of a fine in connection with suspected violations of U.S. antitrust laws relating to a price cartel and bid rigging involving electrolytic capacitors. Following the approval procedure of the U.S. District Court for the Northern District of California in October 2018, the fine payable under the plea agreement was finalized at US$60 million. In September 2018, the Korea Fair Trade Commission decided to issue a corrective order against the Company, impose a surcharge and refer the matter for criminal prosecution, on the grounds that the Company had engaged in conduct violating Korean competition law in connection with the manufacture and sale of electrolytic capacitors. In November of the same year, the Korea Fair Trade Commission served its formal decision, which stated that the surcharge amounted to KRW 4,176 million. As the decisions concerning the corrective order and surcharge differed from the Company's understanding and recognition of the matter and were unacceptable to the Company, it appealed to the Seoul High Court.」
The fine payable to the U.S. Department of Justice was finalized at US$60 million, and the formal decision of the Korea Fair Trade Commission stated that the surcharge amounted to KRW 4,176 million. The Company appealed the Korean corrective order and surcharge decision to the Seoul High Court. - FY2019-Q2MaterialisedAnnual report
「The Company had decided to enter into a plea agreement with the U.S. Department of Justice providing for, among other matters, payment of a fine in connection with suspected violations of U.S. antitrust laws relating to a price cartel and bid rigging involving electrolytic capacitors. Following the approval procedure of the U.S. District Court for the Northern District of California in October 2018, the fine payable under the plea agreement was finalized at US$60 million. In September 2018, the Korea Fair Trade Commission decided to issue a corrective order against the Company, impose a surcharge of KRW 4,211 million and refer the matter for criminal prosecution, on the grounds that the Company had engaged in conduct violating Korean competition law in connection with the manufacture and sale of electrolytic capacitors.」
The fine payable to the U.S. Department of Justice was finalized at US$60 million, and the Korea Fair Trade Commission also issued a corrective order, imposed a KRW 4,211 million surcharge and decided to refer the matter for criminal prosecution. The Company recognized an antitrust-related loss of ¥2,702 million, including an additional US$20 million relating to the U.S. matter as an extraordinary loss. The Company stated that it would review the Korean matter after receiving the formal decision. - FY2019-Q1RestatedAnnual report
「The Group is subject to investigations and other actions by competition authorities in various countries in connection with transactions involving aluminum electrolytic capacitors and other products. These matters may affect the Group's operating results and other aspects of its financial performance. The Group decided to enter into a plea agreement with the U.S. Department of Justice providing for payment of between US$40 million and US$60 million in fines, among other matters, and recognized US$40 million in the previous consolidated fiscal year because its occurrence was deemed certain.」
The Company continues to disclose investigations by competition authorities in various countries and the possibility of payments under the plea agreement with the U.S. Department of Justice. It explains that US$40 million was already recognized in the previous consolidated fiscal year. - FY2018WorsenedAnnual report
「In October 2017, the Company was indicted by the U.S. Department of Justice in the U.S. District Court for the Northern District of California on suspicion of violating U.S. antitrust laws in connection with a price cartel and bid rigging involving electrolytic capacitors. The Company had taken appropriate measures, including presenting arguments and evidence in formal court proceedings, but on 10 May 2018 decided to enter into a plea agreement with the U.S. Department of Justice providing for, among other matters, payment of a fine. The fine payable under the plea agreement will be between US$40 million and US$60 million and will be finalized following the approval procedure of the U.S. District Court for the Northern District of California.」
The disclosure covers the plea agreement with the U.S. Department of Justice, a penalty of SGD 6,993,805 imposed by the Competition and Consumer Commission of Singapore, a penalty of EUR 97,921,000 imposed by the European Commission, and a US$13.5 million settlement of a U.S. class-action civil lawsuit. The Company recognized an antitrust-related loss of ¥19,223 million. The legal and financial burden has increased further from the previous quarter. - FY2018-Q3MaterialisedAnnual report
「On 5 January 2018, the company’s subsidiary SINGAPORE CHEMI-CON (PTE.) LTD. received a decision from the Competition Commission of Singapore ordering it to pay a penalty for conduct violating Singapore’s competition law in connection with transactions involving aluminum electrolytic capacitors with customers in Singapore. On 22 January 2018, the company and its subsidiary United Chemi-Con, Inc. did not admit liability for damages and other claims in a class-action civil lawsuit filed in the U.S. District Court for the Northern District of California concerning alleged violations of U.S. antitrust laws involving electrolytic and film capacitors. However, after comprehensively considering the relevant circumstances, they decided to settle with the indirect-purchaser plaintiff class. In connection with these matters, the company recorded antitrust-related losses as an extraordinary loss.」
In addition to the indictment by the U.S. Department of Justice, the company received a penalty decision from the Competition Commission of Singapore and decided to settle a U.S. class-action civil lawsuit, recording antitrust-related losses of ¥2,241 million as an extraordinary loss. Competition-law risks materialized as actual penalties, settlements and losses. - FY2018-Q2WorsenedAnnual report
「On 18 October 2017 local time, the U.S. Department of Justice indicted the company in the U.S. District Court for the Northern District of California on suspicion of violating U.S. antitrust laws in connection with price-fixing and bid-rigging involving electrolytic capacitors.」
In addition to investigations by competition authorities and civil lawsuits, the U.S. Department of Justice brought criminal charges, expanding the legal and business-performance risks. - FY2018-Q1RestatedAnnual report
「The group is under investigation by competition authorities in the United States, the EU and other countries in connection with transactions involving aluminum electrolytic capacitors and other products. As a result, the investigations may affect the group’s business results and other matters.」
The company continues to disclose investigations by competition authorities and the possibility of an impact on business results. - FY2017-Q3RestatedAnnual report
「The group is under investigation by competition authorities in the United States, the EU and other countries in connection with transactions involving aluminum electrolytic capacitors and other products. As a result, the investigations may affect the group’s business results and other matters.」
The company continues to disclose investigations by competition authorities in the United States, the EU and elsewhere into transactions involving aluminum electrolytic capacitors and other products, and the possibility of an impact on business results. - FY2017-Q2RestatedAnnual report
「The group is under investigation by competition authorities in the United States, the EU, China and other countries in connection with transactions involving aluminum electrolytic capacitors and other products. As a result, the investigations may affect the group’s business results and other matters.」
The company continues to disclose investigations by competition authorities in the United States, the EU, China and elsewhere and the possibility of an impact on business results. - FY2017-Q1RestatedAnnual report
「The group is under investigation by competition authorities in the United States, the EU, China and other countries in connection with transactions involving aluminum electrolytic capacitors and other products. As a result, the investigations may affect the group’s business results and other matters.」
The company reiterates that investigations by competition authorities in the United States, the EU, China and elsewhere are ongoing. - FY2016First statedAnnual report
「In March 2016, the company received from the Japan Fair Trade Commission a cease-and-desist order and an order to pay a surcharge of ¥1,435.24 million for conduct related to aluminum electrolytic capacitor transactions that violated the Antimonopoly Act.」
In addition to sanctions in Japan and Taiwan, the company disclosed investigations by competition authorities in the United States, the EU, China and elsewhere, as well as civil lawsuits in the United States and Canada, indicating that legal proceedings had materialized as actual losses and response matters.