In an announcement to the Tokyo Stock Exchange on Tuesday, Japan’s NSK Ltd said the National Development and Reform Commission had ordered it to pay a penalty of Rmb174.9m ($28.5m) for violations of China’s Anti-Monopoly Law. The company, which makes bearings and other car components, was the first to confirm it has been fined by the NDRC for alleged antitrust infractions.
Another Japanese components manufacturer, NTN Corp, also said on Tuesday that it had been told to pay Rmb119.2m as part of the NDRC investigation.
“Following an internal investigation into the alleged conduct, NSK has been fully co-operating with the NDRC’s investigation into sales of bearings in China,” NSK said. “We express our sincere regret for the concern this matter has caused our shareholders [and] customers.”