Notice Regarding Charges Filed against Former Officers and Employee for Violation of the Unfair Competition Prevention Act

YOKOHAMA, JAPAN (July 20, 2018) - In reference to recent media reports concerning allegations of bribery on the part of individuals affiliated with Mitsubishi Hitachi Power Systems, Ltd. (MHPS), today MHPS has been notified that two former officers (Director, Executive Vice President, Head of Engineering Headquarters; and Senior Vice President, Senior General Manager of Procurement & Sourcing Division) and the former General Manager of the then-existing Logistics Division have been charged on suspicion of violating the Unfair Competition Prevention Act, more specifically for offering a bribe to a foreign public officer. MHPS has long put in place a host of measures to ensure strict compliance with all laws and regulations, and MHPS finds the current situation extremely regrettable and deeply apologizes to its customers and all other stakeholders for this turn of events. MHPS fully recognizes the gravity of the charges filed and pledges to do everything possible to ensure total compliance by all MHPS officers and employees, to prevent any recurrence of this kind and restore full trust and confidence in MHPS.