JFTC Fines Fiber-Optic Cable Cartel $180M

Law360, New York (May 25, 2010, 11:19 AM EDT) -- Japan's antitrust regulator on Tuesday slapped nine companies, including a Hitachi Ltd. unit and a 3M Co. unit, with fines totaling 16 billion yen ($180 million) for forming a cartel that fixed prices on fiber-optic cable parts sold to a unit of Nippon Telegraph and Telephone Corp., Asia's largest telecommunications company.

The Japan Fair Trade Commission announced the fines in a statement, hitting Sumitomo Electric Industries Ltd. with a 6.8 billion yen fine, the highest of the nine.

Also receiving fines were Furukawa Electric Co. Ltd....
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