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Penalties on Japanese auto firms for monopoly practices

The National Development and Reform Commission has published the list of administrative penalties it imposed on 12 Japanese auto part and bearing companies for their price monopoly activities in China. The 12 Japanese companies are Denso, Mitsubishi Electric, Asian Industry, Mitsuba, Yazaki, Furukawa Electric, Sumitomo Electric, Nachi, NSK, NTN, JTEKT and Hitachi Automotive Systems. The companies were fined a total of 1.2354 billion yuan ($201.15 million), the highest since China's antitrust move was started about a year ago. Nachi and Hitachi Automotive Systems were exempted from paying the fines because they took initiatives to report to the NDRC about how related monopolizing agreements were reached and provided key evidence.

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