August 22, 2017
Kawasaki Kisen Kaisha, Ltd.
Announcement by the Korea Fair Trade Commission
The Korea Fair Trade Commission (KFTC) announced on August 21, 2017 that it decided to order to rectify illegal conduct, impose a surcharge and bring a criminal accusation to certain companies pursuant to the Monopoly Regulation and Fair Trade Act, in connection with certain sales of car carrier services.
The KFTC announced that it decided to imposed on “K” Line a surcharge of 12,824 million Korean Won (approximately 12.3 billion Japanese Yen) and bring a criminal accusation against “K” Line. However, this surcharge is expected to be reduced further and the criminal accusation is expected to be exempted in response to the “K” Line’s cooperation with the KFTC’s investigation.
“K” Line takes this matter seriously and has taken steps to further strengthen its compliance and training programs to ensure compliance with all applicable laws and regulations.
In conjunction with this, “K” Line has not changed its forecasts for consolidated financial results for the fiscal year ending March 31, 2018, announced on July 31, 2017.