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Japanese steel-trading company Satoshoji violated subcontract law, JFTC says

( April 21, 2025, 08:43 GMT | Official Statement) -- MLex Summary: Japanese steel-trading company Satoshoji violated the Subcontract Act by unfairly returning products to its subcontractors, according to the Japan Fair Trade Commission. The antitrust agency said that the Tokyo-based firm returned metal products to 19 subcontractors between February 2023 and April of last year, even though they were not at fault. In addition, the listed company failed to pay subcontract fees within 60 days for a period of one year —  from March 2023 to February 2024 — affecting 81 subcontractors. In January, Satoshoji refunded a total of 47 million yen ($335,000) to the affected companies.  In its corrective recommendation, the JFTC instructed the company to implement compliance measures to prevent further violations.The statement, in Japanese, is attached....

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