Horkos back in exporting.
Horkos Corp. (Fukuyama, Hiroshima Pref., Japan) has returned to the
export business with a shipment that took place after a five-month
export ban was lifted earlier this year by the Japan's Ministry of
Economy, Trade and Industry (see M.I.R. 08/20/09). The machine-tool
producer ran afoul of Japanese regs concerning shipments to South Korea
and China. METI approved of the firm's 20-page export-compliance
program featuring the creation of a dedicated committee. Not counting
tainted reputation, the government-imposed penalties cost Horkos [yen]
8.8-billion (about $97-million) in order cancellations and the like,
Masao Sugeta, its CEO and president, disclosed to the local press.