JFTC Fines Oil Cos. 4.48B Yen For Bid-Rigging

Law360, New York (January 18, 2008, 12:00 AM EST) -- Japan's Fair Trade Commission has ordered three major national oil companies to pay a total of 4.48 billion yen ($41.5 million) for rigging bids in the 1990s over contracts to deliver oil products to the country's Defense Agency.

The three oil distributors — Cosmo Oil Co., Nippon Oil Corp. and Showa Shell Sekiyu K.K. — are the last of an original group of 11 charged with violating Japan's Antimonopoly Law, according to Kyodo News.

In October 1999, the JFTC filed a criminal complaint against the oil...
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