Japan suppliers fined to protect consumers

China imposed the largest anti-trust fine in its regulatory history on a dozen Japanese auto parts manufactures and suppliers on Wednesday, reflecting its resolve to prevent market leaders from jeopardizing consumer interests through price manipulation.

Ten of the 12 Japanese companies, were fined a total of 1.24 billion yuan ($202 million) for price fixing. Hitachi and Nachi-Fujikoshi were exempted because they pleaded guilty and provided evidence against the other companies. The largest single fine, of 290 million yuan, was imposed on Sumitomo Corp, which is also the largest fine on one company operating in Chinese anti-trust history.

Last year, China fined its two major domestic liquor makers Kweichow Moutai and the Wuliangye Yibin Group 249 million yuan and 202 million yuan respectively.