( April 28, 2023, 09:00 GMT | Official Statement) -- MLex Summary: The Tokyo High Court rejected on April 7 appeals by Sanwa Shutter, Toyo Shutter and Bunka Shutter to annul the Japan Fair Trade Commission’s administrative hearing decisions of August 2020, which upheld the enforcer's original cease-and-desist orders and fine payment orders for a price cartel, except certain fine amounts originally imposed on the three companies. According to the Tokyo High Court ruling recently published by the regulator, the appellate court confirmed the JFTC’s findings that the three companies had agreed to raise shutter prices across Japan by roughly 10 percent from April 2018, and that the enforcer had substantial evidence to assume the companies’ tacit agreement, formed by their communication of intensions. A statement in Japanese is attached....
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