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Japanese printing company Nakabayashi to pay $7.2 million to Japan Pension Service for antitrust damages

( March 27, 2023, 08:12 GMT | Official Statement) -- MLex Summary: Japanese printing company Nakabayashi said today it was paying 945 million yen ($7.2 million) to the Japanese public pension operator in response to a request from the Japan Pension Service for damages for illegal conduct. About a year ago, Nakabayashi, Kyodo Printing, Toyo Shigyo Printing, Toppan Forms and 20 other companies faced fines from the Japan Fair Trade Commission totaling 1.74 billion yen for rigging the JPS's tenders for printing and mailing annual pension notices. Nakabayashi earlier this month received the JPS’s notice that it was planning to request damages, on top of the penalties it had paid, totaling 383 million yen. Nakabayashi’s board meeting decided today to earmark 945 million yen as a special loss, associated with antitrust issues, for the fiscal year ending in March. Kyodo Printing and Hikari Business Form also said recently that they had received similar notices from the JPS demanding damages. The statement, in Japanese, is attached. ...

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