5 Japanese Oil Distributors Admit Price Cartel in Trial

Tokyo, Sept. 3 (Jiji Press)--Five Japanese oil distributors admitted forming a price cartel for gas oil sold to transport and other companies in Tokyo, at the first hearing of their trial at Tokyo District Court on Thursday.

East Japan Usami Co. and Kyoei Sekiyu of Tokyo, Eneos Wing Corp. of the central city of Nagoya, Enex Fleet Co. of the western city of Osaka and Kitaseki Co. of the northeastern prefecture of Miyagi are suspected of violating the antimonopoly law. No individuals were indicted in the case.

According to the indictment, officials of the five companies agreed to raise the prices of gas oil sold to transport and other companies and curb price reductions between October and December 2024.

The prosecution argued in its opening statement that in the oil industry, gatherings called "F-kai" have been held for each region since around November 2012 or before for the exchange of information on average sales prices and negotiations with clients.

In the Tokyo metropolitan area, marketing employees from eight companies, including the five, have held monthly meetings called "Chuo-kai" in private rooms at restaurants since October 2019, according to the prosecutors.

[Copyright The Jiji Press, Ltd.]