Japan Govt Adopts Bill to Expand Antitrust Leniency Program
Newsfrom JapanPolitics Society
Tokyo, March 12 (Jiji Press)--The Japanese government at a cabinet meeting on Tuesday adopted a bill to revise the antimonopoly law to expand the Fair Trade Commission's leniency program for companies voluntarily reporting antitrust practices.
The government aims to get the bill enacted during the current regular session of the Diet, the country's parliament.
Under the leniency program, introduced in 2006, antitrust fines are reduced or exempted for the first five companies that report price cartels, bid-rigging and other antitrust activities to the watchdog before the start of its investigations.
The amendment calls for removing the limit on the number of eligible companies while granting additional cuts of up to 40 pct in fines depending on the degree of their cooperation in FTC probes, such as submission of evidence.
Meanwhile, the revised law would strengthen penalties for breaches of the law.
[Copyright The Jiji Press, Ltd.]