On November 12, 2008 (US Eastern Standard Time), Sharp Corporation concluded a plea agreement with the United States Department of Justice to pay a fine of 120 million US dollars (approximately 12 billion yen) regarding price fixing of TFT-LCDs with respect to a limited number of customers.
The US Department of Justice has been investigating the pricing practices of the world’s major TFT-LCD manufacturers since December 2006, and Sharp has fully cooperated in this investigation. After carefully taking into consideration the applicable laws and regulations, the facts, and other factors, Sharp has decided that the best possible course of action would be to conclude the aforementioned agreement.
Sharp will record this amount as extraordinary expenses for the fiscal period of October 1 through December 31, 2008 term.
In consideration of this matter and the fact that similar investigations are being conducted in Japan and Europe, causing inconvenience and/or anxiety to our shareholders and other persons concerned, Sharp Chairman & CEO and some other directors will voluntarily return 10 to 30% of their remuneration for three months starting December 2008.
Sharp understands the gravity of this situation and will strengthen and thoroughly implement measures to prevent the recurrence of this kind of problem, and will earnestly work to regain the public’s confidence.
|The above information is true and accurate at the time of publication. Manufacture, sale, price and specifications of products may be subject to change.