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Japan's Kyokuto Kaihatsu books special loss of $40 million for antitrust violation

( July 9, 2025, 01:50 GMT | Official Statement) -- MLex Summary: Japan’s publicly traded truck-body manufacturer, Kyokuto Kaihatsu Kogyo, announced in a stock exchange filing that it has allocated 5.9 billion yen (approximately $40 million) as a special loss in the April-June period, related to an antitrust violation. Last November, Kyokuto and its subsidiary Nippon Trex were raided over a suspected price cartel involving ShinMaywa Industries and its subsidiary Toho Car. Kyokuto based its estimated loss on a draft fine-payment and cease-and-desist orders issued by the Japan Fair Trade Commission last month . As a result, Kyokuto’s net profit for the fiscal year ending in March next year is now projected to decline from 6.5 billion yen to 2.6 billion yen. The statement, in Japanese, is attached....

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