We uncovered the case ourselves, involved the authorities and took disciplinary measures, a spokesman for the company said on Friday.
German daily newspaper Financial Times Deutschland earlier cited a senior prosecutor in Munich as saying arrests had been made in connection with a fresh investigation at Siemens.
The paper cited judicial sources as saying at least two managers had been arrested, and an arrest warrant has been issued for a third manager who had worked in Kuwait.
The prosecution in Munich was not immediately available for comment.
Siemens was embroiled in Germany's biggest post-war corporate corruption scandal that started in 2006, culminating in about 1 billion euros ($1.46 billion) in fines and penalties and the departure of its chairman and chief executive.
One-off cases can never be ruled out, but we can rule out systematic misconduct, the spokesman for Siemens said.
Shares of Siemens were 0.2 percent lower at 91.04 euros by 3:14 a.m. EDT, in line with Germany's blue-chip index <.GDAXI>.
(Reporting by Andreas Kroener and Josie Cox; Additional reporting by Patricia Gugau; Editing by Hans Peters)