Japan FTC Reveals Firms Rejecting Price Hikes by Suppliers

Economy

Tokyo, Dec. 27 (Jiji Press)--Japan's Fair Trade Commission on Tuesday published the names of 13 organizations that refused to accept price increases by suppliers over surging materials and labor costs.

The antitrust watchdog urged the 13 organizations to improve their actions, after they kept prices intact without negotiations with suppliers.

The 13 organizations include Sagawa Express Co., the National Federation of Agricultural Cooperative Associations, or Zen-Noh, Denso Corp. <6902> and Toyota Industries Corp. <6201>.

The move by the FTC follows an emergency investigation that the agency conducted on whether suppliers were able to pass on rising costs to larger clients, as part of efforts by the government to help small businesses secure funding to raise wages.

None of the 13 organizations were accused of violating law. Publishing their names is intended to have them hold talks with suppliers on prices.

[Copyright The Jiji Press, Ltd.]

Jiji Press