Explanation on news article by EU antitrust department
The Company was noted EU antitrust department News yesterday that The Company, the subsidiary of the Company constituted in Samoa, Holy Stone Holdings Co.,Ltd (hereinafter “Holdings”) and Holdins's former Japanese subsidiary Holy Stone Polytech Co., Ltd. (hereinafter “HPC”, now is called as "Vishay Polytech") were collectively fined EUR782,000.
As the Company has not received an official document from the EU antitrust department, no information can be disclosed at this point in time. The Company and Holdings were not involved in, were unaware of, and deeply regret the conduct of certain of its former Japanese subsidiary HPC’s employees. We will decide with our legal team whether to appeal after receiving an official document.
To comply with the accounting standard, the Company has recorded the fine in 2017 financial statement, therefore, the fine will not cause a material impact to our finance and business.