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Sony Enters Settlement relating to the European Commission Investigation of the Secondary Batteries Market


WEBWIRE

Sony Corporation (“Sony”) today announced that Sony and certain of its subsidiaries have reached a settlement with the European Commission following an EU antitrust investigation of competition in the secondary batteries market involving a number of battery manufacturers. The settlement covers the period from February 2004 through October 2007. Sony has agreed to pay a fine of approximately EUR 29.8 million in connection with the settlement.

Sony is committed to compliance with all applicable competition rules, including EU antitrust rules. It is convinced that the conduct which is the subject of the settlement has not negatively impacted its customers of secondary batteries.

As announced on October 31, 2016, Sony agreed with Murata Manufacturing Co., Ltd. (“Murata”) to transfer Sony Group’s battery business, including Sony’s secondary battery business, to Murata, and is aiming to complete the transfer by early April 2017, subject to required regulatory approvals and other conditions. The settlement is not expected to impact the transfer.

The settlement is also not expected to have a material impact on Sony’s forecast for its consolidated financial results for the fiscal year ending March 31, 2017.


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