Japanese Cable Makers Face $7M In Cartel Fines

Law360, New York (January 29, 2010, 2:08 PM EST) -- Japan's competition regulator has ordered three Tokyo-based electric cable companies to fork over a collective ¥630.01 million ($6.9 million) in surcharges over allegations that they engaged in bid-rigging and formed a cartel in an effort to land high-voltage electric cable supply orders.

The Japan Fair Trade Commission said Wednesday that J-Power Systems Corp., Viscas Corp. and Exsym Corp. had violated the country's Antimonopoly Act by engaging in anti-competitive bidding for power cable deals with Tokyo Electric Power Co. Inc. and others.

Exsym was subject to the...
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