January 9, 2014
Kawasaki Kisen Kaisha, Ltd.
Receipt of Advance Notice of Draft Orders
from the Japan Fair Trade Commission
KAWASAKI KISEN KAISHA, LTD. ("K" Line) was investigated on September 6, 2012 by the Japan Fair Trade Commission (the “JFTC”) due to suspected violation of the Antimonopoly Act of Japan regarding ocean shipping of automobiles. Since then, "K" Line has fully cooperated with the relevant JFTC investigations.
"K" Line announced today that it received advance notice of the draft cease and desist order and the draft administrative surcharge payment order (the “Advance Notice”) by the JFTC for alleged violation of Article 3 (Unreasonable Restraint of Trade) of the Antimonopoly Act of Japan.
“K” Line regards the situation with the utmost gravity and we will examine the details of the Advance Notice and consider our response carefully.
We express our sincere regret for the concern this matter has caused our customers, shareholders, and other stakeholders.
The impact on "K" Line's consolidated financial results is unknown yet, but we will make an announcement as soon as the impact is determined to be significant.