Mitsubishi, Sekisui Fined $125M Over Pipe Cartel

Law360, New York (February 18, 2009, 12:00 AM EST) -- Japan's Fair Trade Commission reportedly fined Sekisui Chemical Co. and Mitsubishi Plastics Inc. a total of 11.7 billion yen ($125 million) on Wednesday for allegedly taking part in a cartel to fix the prices of vinyl chloride pipes.

Sekisui was fined 7.96 billion yen ($85 million), the largest fine ever imposed by the JFTC, while Mitsubishi was fined 3.72 billion yen ($40 million), the Japanese news service Kyodo News reported. According to Kyodo, representatives of the companies said they had not yet decided whether they would...
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