Comments on Conclusion of Damage Compensation Lawsuits Targeting Past Violations of Antimonopoly Law
In November of 2008, HORIBA Ltd., along with two other companies active in the same industry, were served with cease and desist orders by the Fair Trade Commission of Japan. These directives were based upon accusations of actions taken in violation of the Antimonopoly Law (amounting to so-called "bid rigging") in the process of competitive bidding for orders of continuous automatic atmospheric measuring equipment (air pollution monitoring devices) from Japanese public offices.
Following that, claims for damages were filed against HORIBA and the other said companies in the same business by certain local public entities that were customers for the said equipment, asserting that the illegal actions in question resulted in purchases of the products at unjustly high prices. These damage compensation claims included certain details, pertaining to the sphere of the targeted transactions, computation of the amounts of damages being claimed and other areas that proved difficult for HORIBA to accept, with some aspects of those claims amounting to significantly high financial demands.
Taking these factors under consideration, HORIBA acted in good faith to advance discussions with the various local public entities, while also consulting with an attorney in a concerted attempt to amicably resolve the matters at hand. Regrettably, parties of these deliberations with which it proved impossible to reach agreement chose to bring legal action against HORIBA in the courts of their respective districts.
Following that, HORIBA promoted efforts to resolve the various cases either through proposals of settlements at the various district courts or by acting in accordance with the rulings issued by those courts. As a result of these endeavors, as of March 2015, all of the aforementioned lawsuits with the said local public entities had been brought to conclusion.
At HORIBA, we pledge to strive through thorough training for our employees and other means to firmly impress upon all personnel the enormous importance of compliance with the Antimonopoly Law, and otherwise do everything in our capacity to prevent any recurrence of the types of situations described above.
Omoshiro Okashiku - Joy and Fun
The company motto displayed above sums up the directive to everyone at HORIBA Group, which is to bring enthusiasm and excitement into our work to make our trade fulﬁlling and enjoy our lives.