November 20, 2007
FUJIFILM Holdings Corporation
FUJIFILM Recording Media GmbH (Kleve, Germany; hereafter “FUJIFILM Recording Media”), an overseas subsidiary of FUJIFILM Holdings Corporation (President and CEO Shigetaka Komori), received an on-site investigation from the European Commission in May 2002 on suspicion of violating EU competition law in relation to the professional Betacam videotape market in Europe.
FUJIFILM Holdings Corporation fully cooperated with the investigation. Following the probe, the European Commission has announced that a fine is to be imposed on FUJIFILM Recording Media, FUJIFILM Holdings Corporation and FUJIFILM Corporation. The amount of the fine has been reduced by 40% due to the cooperation of the three companies in the investigation by the European Commission.
The Fujifilm Group will consider further responses after investigating the full content of the European Commission's decision.
The Fujifilm Group has taken decisive steps to reinforce its level of compliance and has since June 2002 had an internal section dedicated to compliance issues. The investigation by the European Commission prompted the Group to also enhance its anti-trust compliance through educating employees thoroughly and introducing the internal anti-trust compliance program under the strong leadership of the President.
The Fujifilm Group has also undergone external assessment on its reporting practices for compliance and other CSR activities according to the AA1000 Assurance Standard(*), an internationally-trusted assurance standard for information disclosure, in an effort to further improve transparency and objectivity. With these efforts designed to earn stakeholder credibility, the Fujifilm Group will continue to work on reinforcing its compliance system, covering affiliates inside and outside Japan.
(*) International assurance standard on sustainability reporting, defined by the Institute of Social and Ethical Accountability.