TOKYO - Toshiba Corp said on Wednesday it would appeal against a ruling by the European Commission that the Japanese electronics maker had participated in a power transformer cartel.
Toshiba believes that the European Commission's ruling is unfounded, a spokesman for the company said.
We believe that there was no infringement. We regret the EU did not accept our position, the spokesman said.
The Commission fined six companies a total 67.6 million euros on Wednesday -- including 13.2 million euros for Toshiba -- after concluding they had taken part in the cartel. (Reporting by Mayumi Negishi; Writing by Bate Felix; Editing by Dale Hudson)