Special Equipment Manufacturers ShinMaywa, Kyokuto Kaihatu Kogyo Suspected of Forming Price Cartel

The Yomiuri Shimbun

13:41 JST, November 12, 2024

The Japan Fair Trade Commission on Tuesday conducted on-site inspections of two major manufacturers of specialized equipment for special purpose vehicles, and their subsidiaries on suspicion of forming a price cartel.

The companies are ShinMaywa Industries, Ltd. and its subsidiary Toho Car Corp. and Kyokuto Kaihatsu Kogyo Co. and its subsidiary Nippon Trex Co.

The four companies have exchanged information from around September 2020 on the sales prices of the special equipment, according to sources. This equipment is installed on the cargo beds of special purpose vehicles, such as dump trucks, garbage trucks, tanker trucks and trailers.

It is suspected that officials of the companies discussed the matter at a meeting and agreed to raise the sales price to dealers of such vehicles as well as transport companies and local governments.

ShinMaywa Industries and Kyokuto Kaihatsu Kogyo are listed on the Tokyo Stock Exchange’s Prime section.