Antitrust Fines in Japan Total 69.2 B Yen in FY 2019

Politics

Tokyo, June 17 (Jiji Press)--Japan’s Fair Trade Commission said Wednesday it fined companies a total of 69,275.6 million yen for violating the antimonopoly law in fiscal 2019, which ended in March.

The amount, apparently boosted by large-scale cases, was the second largest since the country started imposing levies on violators of the law in 1977.

In fiscal 2019, the antitrust watchdog fined asphalt mix producers a total of 39.9 billion yen, a record antitrust fine in the country, for running a price cartel.

It also fined can makers a total of 25.7 billion yen over a price cartel for cans used for beverages.

In the year, two companies were exempted from administrative punishment under a system known as commitment procedures introduced in December 2018.

[Copyright The Jiji Press, Ltd.]

Jiji Press