OREANDA-NEWS. Mitsubishi Electric Corporation announced today that it has received on August 19 an order from Republic of China's National Development and Reform Commission (NDRC) for payment of a surcharge amounting to 44.88 million yuan, or approximately 700 million yen.

The payment is for infringement of Republic of China's Antimonopoly Act Article 13, which concerns monopoly agreements regarding prices, in connection with certain automotive parts sold by the company in the past. Mitsubishi Electric has been cooperating with the NDRC investigation, which was launched on May 6, 2014.

Mitsubishi Electric, which takes this matter very seriously, will comply with the order. The company will also reconfirm that compliance measures are thoroughly implemented as part of its efforts to recover public trust.

In relation to the surcharge payment, there will be no change in Mitsubishi Electric's consolidated financial forecast for the fiscal year ending March 2015.