Japanese regulator fines utilities $754.7 mln for forming cartel

Chugoku Electric Power Co

30/03/2023 07:55

TOKYO, March 30 (Reuters) - Japan's antitrust watchdog
said on Thursday that it has ordered three utilities to pay a
total of more than 100 billion yen  ($754.66 million) fine for
violating anti-monopoly laws.
    Among the three, Chugoku Electric Power Co  9504.T  was hit
with the biggest fine of 70.7 billion yen.
    The Japan Fair Trade Commission also ordered Chubu Electric
Power Co  9502.T  to pay a 27.6 billion yen fine, while Kyushu
Electric Power Co  9508.T  was ordered to pay 2.7 billion yen. 
    Regulators had investigated the companies for
anti-competitive behaviour and concluded that they had formed a
cartel.  urn:newsml:reuters.com:*:nL1N32R0FI
       
    ($1 = 132.5100 yen)

 (Reporting by Mariko Katsumura; Editing by Christian
Schmollinger)
 ((Mariko.Katsumura@thomsonreuters.com;))