Settlement with the United States Department of Justice
December 9, 2009
In relation to the sale by ITOCHU Corporation and its United States subsidiary (collectively "Itochu") of Zylon fiber in the United States, on December 7, 2009, Itochu reached a settlement with the United States Department of Justice ("DOJ") of DOJ’s claims under False Claim Act which was initially raised on or around November 2007. During the negotiation with DOJ, Itochu has maintained the position that DOJ’s claims are unfounded. The settlement reached is the result of careful consideration of all relevant factors including the time and legal expense in the event of litigation with DOJ. In the settlement with DOJ, Itochu does not admit the allegations made by DOJ stated above and denies any liability in relation to such allegations.