Information
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Mitutoyo Corporation, Japan
August 9, 2007
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Administrative Sanctions of the Ministry of Economy, Trade and Industry
On June 26, 2007,Mitutoyo received the following administrative sanctions from the Ministry of Economy, Trade and Industry.
We accept these administrative sanctions with the utmost gravity. Based on our past reflections, we will make companywide efforts to promote various measures for revitalization, including our ongoing efforts to further strengthen our export control and compliance systems as we aim to regain the public's trust as soon as possible.
The Ministry of Economy, Trade and Industry placed a six-month ban on the export by Mitutoyo of all products for violation of the Foreign Exchange and Foreign Trade Act, based on the Article 53, Paragraph 1. Besides this six-month ban, exports of CNC coordinate measuring machines and their components are banned for a further period of two years and six months (except for direct exports to specified end users), for a total three-year ban on exports. Below is a summary of the administrative sanctions.
Administrative sanctions
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Export ban implemented in two stages:
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1.
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Subject to export ban
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:
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All products
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Area of export ban
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All regions
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Duration of export ban
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:
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July 3, 2007, to January 2, 2008 (six months)
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2.
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Subsequent to the ban listed above:
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Subject to export ban
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:
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CNC coordinate measuring machines and their components (with the exception of direct exports to specified end users)*
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Area of export ban
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:
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All regions
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Duration of export ban
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:
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January 3, 2008, to July 2, 2010 (two years and six months)
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*
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CNC coordinate measuring machines and their parts may be exported via direct exports and exports via a third party (indirect exports) to end users overseas.
Moreover, all the products except CNC coordinate measuring machines and their parts can be exported as before.
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