Withdrawal of Hearing Request regarding Order from Japan Fair Trade Commission

Release Time：25 Dec,2017

<p> <p class="mb05" style="text-align:center;margin-top:0px;padding:0px;line-height:1.67em;"> <img src="/membcentre/editor/attached/image/20171225/20171225092642_61731.jpg" alt="" /> </p> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> NTN Corporation (“NTN”) has today withdrawn its hearing request regarding the cease and desist order issued by the Japan Fair Trade Commission (the “JFTC”), after NTN has made a hearing request to the JFTC, seeking the JFTC to rescind the cease and desist order as well as the surcharge payment order issued by the JFTC to NTN. </p> </p> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:14.04px;clear:both;background:url(&quot;"> 1. Content of withdrawal </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> The hearing request regarding the cease and desist order: Withdrawn </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:14.04px;clear:both;background:url(&quot;"> 2. Reason for the withdrawal </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> On December 6, 2017, NTN acknowledged that the Supreme Court of Japan dismissed NTN's final appeal regarding violation of the Japan Antimonopoly Act (the “AMA”) with respect to the domestic sales of bearings as of December 5, 2017. In light of the ruling by the Supreme Court, we have decided to withdraw the hearing request regarding the cease and desist order in view of potential expenses, impacts on the company's operations, and other matters which may be incurred if we continue our argument on the presence/absence of a violation of the AMA in the hearing procedures for a long period. </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:14.04px;clear:both;background:url(&quot;"> 3. Our plan </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> While we will take appropriate actions according to the cease and desist order from the JFTC, we will also continue to further strengthen our system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules and to promote our efforts to conduct business activities through fair and faithful competition. </p> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> With regard to the surcharge payment order, we will keep the hearing procedures in which we will continue our argument on the basis for calculation of the surcharge while we will not continue our argument on the presence/absence of a violation of the AMA. </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;white-space:normal;background-color:#FFFFFF;"> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.67em;"> We will continue to further strengthen our system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules and to promote our efforts to conduct business activities through fair and faithful competition. </p> </div> <div class="button_area" style="margin:0px 0px 10px;padding:0px;position:relative;width:690px;min-height:31px;font-family:Meiryo, Osaka, sans-serif;white-space:normal;background-color:#FFFFFF;"> </div>