Receipt of Statement of Objections from the European Commission

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July 7, 2011

Sumitomo Electric Industries, Ltd.

On July 6, 2011, Sumitomo Electric Industries, Ltd. (Sumitomo Electric) confirms that it and its affiliated company accounted for by the equity method, J-Power Systems Corporation received a Statement of Objections* from the European Commission with respect to alleged anticompetitive behavior in the submarine and underground power cables businesses.

Sumitomo Electric had transferred its development, manufacturing and export businesses in this field to J-Power Systems Corporation, a 50-50 joint venture with Hitachi Cable, Ltd., in October 2001, with sales operations targeting domestic power companies transferred in October 2004. European Commission started investigations into the allegation in January, 2009. The European Commission has issued the Statement of Objections in the course of the investigation.

Sumitomo Electric will examine the European Commission's preliminary findings as reported in the Statement of Objections and will respond in due course. Pending further steps in the proceedings and until a final decision by the Commission, Sumitomo Electric will refrain from any further comment.

*A Statement of Objections is a procedural document whereby the European Commission describes its preliminary view in relation to a possible infringement of EU competition law and allows its addressees to present arguments in response. A Statement of Objections is a preparatory document that does not prejudge the European Commission's final decision. Any final decision by the European Commission is subject to appeal to the European Courts.

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