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UPDATE 2-China antitrust regulator fines two Japan auto parts makers

(Adds Yazaki receiving NDRC notification, Denso comment)

TOKYO Aug 19 (Reuters) – Two Japanese automotive bearings
makers said on Tuesday a Chinese regulator has ordered them to
pay fines for violating antitrust laws as Beijing intensifies
its scrutiny of business practices in the auto sector.

Earlier this month, the National Development and Reform
Commission (NDRC) said the government had completed
investigations into 12 Japanese auto parts makers and was
preparing to hand out punishment according to the law.
Sectors from autos to pharmaceuticals have come
under the spotlight as China seeks to tighten compliance with
anti-monopoly laws.

NSK Ltd said the regulator issued a 174.9 million
yuan ($28.5 million) fine over unspecified violations of the
China’s antitrust law. Rival NTN Corp also said the
Chinese regulator ordered it to pay a 119.2 million yuan fine.

“NSK and its subsidiaries…have taken and will continue to
take comprehensive measures with the help of outside experts and
others to ensure strict compliance with all applicable laws and
regulations,” the Tokyo-based company said in a statement.

NTN said it would conduct its business while adhering to
principles of fair and honest competition.

Both companies said should any revisions be made to their
profit forecasts for the financial year to March 2015, they
would be announced swiftly. The fines are small compared to the
companies’ overall sales: for that 12-month period, NSK is
forecasting it will book revenue of 926 billion yen ($9
billion), while NTN expects revenue of 660 billion.

Separately, Yazaki Corp, a Japanese maker of wiring
harnesses, said it has received a notification from the NDRC and
that it would disclose details on Wednesday. “We are currently
closely studying the content (of the notification),” spokesman
Daichi Saito said.

Denso Corp, the world’s second-biggest automotive
parts maker, declined to comment in detail. “We will wait for an
announcement by the authorities and once that is made, we will
comment,” Denso spokesman Sadayoshi Yokoyama said.

($1 = 6.1406 Chinese yuan)
($1 = 102.6600 Japanese yen)

(Reporting by Yoko Kubota; Editing by Chris Gallagher and
Kenneth Maxwell)

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