ECJ Delivered Final Ruling in Respect of Toshiba
OREANDA-NEWS. The European Court of Justice (ECJ) today delivered its final ruling in respect of Toshiba Corporation’s alleged infringement of EU Competition Law in Europe’s gas insulated switchgear (GIS) market. The judgment was delivered in the morning of December 19 in Luxembourg, evening of the same day in Japan. Toshiba greatly regrets that its arguments were not accepted in the end.
With respect to the above infringement, the European Commission issued a decision against Toshiba in June 2012 imposing fines amounting 56.8 million euros (about 8 billion yen at 142 yen to the euro) solely on Toshiba and 4.65 million euros (about 700 million yen) jointly and severally with Mitsubishi Electric Corporation. Toshiba filed an appeal with the General Court of the European Union in September 2012 and is contesting such decision. This appeal now continues.
Toshiba will not make any change in its business forecast for the current fiscal year, FY2013 ending on March 31, 2014, in respect of this judgment.