Response to the Decision from European Commission regarding Marine Hose
Tokyo (April 16, 2009) - On January 28, 2009, Bridgestone Corporation (“BSJ”) and its British subsidiary, Bridgestone Industrial Ltd. had received a notice of decision from the European Commission imposing a fine of 58.5 million euros with respect to the alleged international cartel of marine hose. After careful consideration, BSJ has determined that bringing the course of proceedings to an end and focusing on the reinforcement of its compliance system and promotion of preventive measures are the appropriate action to be taken. Therefore, as an overall judgment, BSJ confirms that it will not appeal the decision and will pay the imposed fine.
BSJ has recorded 7,485 million yen as an expense for the fine from the European Commission in its fiscal year ending December 31, 2008.
The Bridgestone Group takes this issue with the utmost seriousness and will continue its cooperation to the relevant authorities.
