Netherlands Competition Authority Fine - Netherlands Building Products Glass Sector
Nippon Sheet Glass Co., Ltd. (“the Company”) confirms that, as announced by the Netherlands Competition Authority (Nederlandse Mededingingsautoriteit - NMa) on 6 January 2011, its subsidiary in the Netherlands, Pilkington Benelux B.V., has received a decision from the NMa imposing a civil fine on Pilkington Benelux B.V. amounting to Euro 7.46 million (approximately JPY 820 million). The fine relates to alleged violations of Netherlands competition rules within the period 2004/2005 by a number of glass manufacturers in the building glass sector, including Pilkington Benelux B.V.
The company will examine the decision and decide on future action, including a possible appeal. In the meantime, the Company will refrain from further comment.
2. Impact upon the operation
As detailed in the Company’s Annual Report and Accounts for the year ending 31 March 2010, the Company has previously made a provision of Euro 5 million against the estimated fine payment, and will therefore record an additional charge of Euro 2.46 million in the Group’s Quarter 3 results, due to be announced on 3 February 2011. The Company does not expect to make a Revision of its Operating Result Outlook as a result of this development.