10 September 2012

[100912.EN.SEA] Japanese Trust Busters Raid MOL, NYK and "K" Line For Cartel Clues


OFFICIALS from the Japan Fair Trade Commission (JFTC) has searched more than 10 shipping companies for the evidence of forming a cartel to fix prices for delivering automobiles and other exports from Japan to Europe, the US and other Asian markets.

The top three Japanese carriers, MOL, NYK and "K" Line, have confirmed to the media that they were visited by JFTC and said they will cooperate with the investigation.

The top three Japanese carriers occupy over 50 per cent of the relative Japanese market. According to The Nikkei's estimate, the annual turnover on car and related business in Japan is worth between US$2.55 billion and $3.82 billion.

According to reports from Japanese media, Bloomberg and Reuters, more than 10 shipping companies, including Wallenius Wilhelmsen Logistics and Korea's Eukor Car Carriers, both affiliates of Oslo-based Wilh. Wilhemsen ASA, were searched on Thursday September 6. Also, the shipping subsidiaries of Toyota Motor Corp and Nissan Motor Co, the two leading Japanese car manufacturers, are also on the list to be searched by the JFTC, the Japanese business daily reported. So far, the JFTC has not issued any statement on this issue.

Source : SN-TR, 08.09.12.

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