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Japanese can-makers slapped with antitrust fines for cartel conduct

( September 26, 2019, 06:58 GMT | Official Statement) -- MLex Summary: Toyo Seikan, Universal Can and Hokkai Can — Japan’s top beverage can-makers — have been fined a collective 25.7 billion yen ($239 million) by the Japan Fair Trade Commission for engaging in cartel conduct involving the prices of beverage cans. The three can manufacturers and Daiwa Can colluded on the prices of beverage cans from at least June 2010 until March 2013, agreeing not to interfere with each other’s involvement with four beer companies and to maintain sale prices, according to the JFTC. The regulator said that Toyo Seikan, Daiwa Can and Universal Can had colluded on aluminum can prices, while Toyo Seikan, Daiwa Can and Hokkai Can had a cartel arrangement involving steel cans. The three companies received cease-and-desist orders, while Daiwa Can avoided both a fine and corrective orders under the JFTC's leniency program.A statement in Japanese and a list of the companies punished are attached....

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