Japan to Expand Antitrust Leniency Program
Tokyo, Feb. 25 (Jiji Press)--Japan will expand the Fair Trade Commission's antitrust leniency program, mainly by reducing fines on violators depending on the degree of their cooperation, informed sources have said.
Meanwhile, punishments on those violating the antimonopoly law will be strengthened.
The government hopes to adopt a bill to revise the law at a cabinet meeting in early March and submit it to the current parliamentary session ending in June, if the bill is approved by the ruling bloc.
Under the leniency program, introduced in 2006, companies are granted a reduction or exemption of fines if they report bid-rigging, cartels or other violations of the law.
At present, such measures are awarded to up to five companies per case in order of applications. The bill would call for removing this limit.
[Copyright The Jiji Press, Ltd.]