Japanese Regulator Fines Utilities $754.7 mln for Forming Cartel
18:05 JST, March 30, 2023
TOKYO(Reuters) – Japan’s antitrust watchdog said on Thursday that it has ordered three utilities to pay a total of more than 100 billion yen ($754.66 million) fine for violating anti-monopoly laws.
Among the three, Chugoku Electric Power Co 9504.T was hit with the biggest fine of 70.7 billion yen.
The Japan Fair Trade Commission also ordered Chubu Electric Power Co 9502.T to pay a 27.6 billion yen fine, while Kyushu Electric Power Co 9508.T was ordered to pay 2.7 billion yen.
Regulators had investigated the companies for anti-competitive behavior and concluded that they had formed a cartel.
"Society" POPULAR ARTICLE
-
JICA Employee Suspected of Leaking Info on ODA Project in Manila; Bidding for Railway Renovation May Have Been Impacted
-
Typhoon Cimaron Forms South of Japan; Expected to Move Closer to Kyushu, Shikoku in Few Days
-
Typhoon Jebi, Typhoon Krathon Approaching Japan; Impact on Eastern Japan, Okinawa is Concerning
-
‘Doraemon’ Voice Actress Nobuyo Oyama Dies at 90; Also Voiced Katsuo in Anime ‘Sazae-san’ (UPDATE 1)
-
Japan’s Nihon Hidankyo Wins Nobel Peace Prize; Hibakusha Group Campaigns against Nuclear Weapons (UPDATE 3)
JN ACCESS RANKING
- Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
- Japan-S. Korea Exchange Festival Held in Seoul
- Japan Trying to Draw Digital Nomads, Who Are Seen as Beneficial to Economy, Society
- JICA Employee Suspected of Leaking Info on ODA Project in Manila; Bidding for Railway Renovation May Have Been Impacted
- Asukayama Monorail in Tokyo: Free to Ride!