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    3 Japan utilities face record-high 101 bil. yen in antitrust fines

    March 30, 2023 - Japan Economic Newswire


      Japan's trade watchdog on Thursday ordered three major electricity companies to pay a total of 101 billion yen ($763 million) in fines for allegedly forming a cartel over electricity sales targeting businesses.

      The amount of the penalty is the highest ever imposed by the Japan Fair trade Commission for a violation of the country's antimonopoly law.

      Chugoku Electric Power Co. was slapped with about 70.7 billion yen in surcharges, Chubu Electric Power Co. and its subsidiary with about 27.56 billion yen, and Kyushu Electric Power Co. with about 2.76 billion yen, the Japan Fair trade Commission said.

      Kansai Electric Power Co., found to have formed a cartel with each of the three firms, was exempted from punishment by voluntarily reporting antimonopoly violations to the watchdog before a probe began, according to the commission.



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