Japan’s antitrust watchdog will impose a fine totaling nearly 60 billion yen on Maeda Road Construction and seven other major road paving material companies for forming a cartel to raise the price of asphalt, sources with knowledge of the matter said.
The Japan Fair Trade Commission has started informing the companies, also including Kajima Road Co and Toa Road, of its decision, according to the sources. If finalized, the fine will be the largest combined amount slapped by the watchdog in violation of the country’s antimonopoly law.
The companies, all headquartered in Tokyo, are suspected of forming the price-fixing cartel several years ago. Market prices of asphalt are used as a reference when the central and local governments set bidding prices for constructing roads.
Full Content: Japan Today
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