Japan’s Kansai Electric Power and Chubu Electric Power confirmed on Tuesday, April 13, that their offices were raided by antitrust regulators.
Authorities investigated Kansai on suspicion of having prevented competition in the high-voltage power segment in Chubu, Kansai, and Chugoku areas in western and central Japan, the utility said in a statement.
“We solemnly accept the raid and we will fully cooperate with the investigation,” a company spokeswoman said, without elaborating on the investigation.
Chubu and its unit were also raided on suspicion of violations of the antimonopoly act in the high-voltage electricity market in Chubu and other regions as well as in low-voltage power and city gas markets in the Chubu region, it said in a statement.
Media reports said the utilities had prevented competition by agreeing to not go after each other’s high-voltage power customers such as factories and other business owners, thereby preventing price cuts amid deregulation.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI