A PYMNTS Company

Japan: Can-makers to face antitrust fines

 |  July 3, 2019

The Japan Fair Trade Commission plans to fine three major domestic can-makers a total of about ¥25 billion for fixing prices for cans used for beer and other beverages in violation of the antimonopoly law, informed sources said Tuesday.

The antitrust watchdog has notified Toyo Seikan, Universal Can and Hokkaican of the plan, the sources said. It also plans to order them to take measures to prevent similar wrongdoing, they added. It will make a final decision after collecting opinions from the firms.

The JFTC will fine Toyo some ¥12 billion (US11m), Universal over ¥10 billion and Hokkaican several billions of yen, the sources said.

The agency also recognized the involvement of Daiwa Can in the price-fixing, but the firm is unlikely to face any penalty as it voluntarily reported the misconduct, the sources said.

The four firms, all based in Tokyo, conspired to raise can prices at a time when raw materials prices had surged and to prearrange contract winners, the sources said.

Full Content: Japan Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.