crime

Japanese shipping firm fined $67.7 mil for price-fixing

15 Comments
By DAVID DISHNEAU

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15 Comments
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And those of us who were victims of this get nothing, what a crock, but the US govt gets millions.

0 ( +1 / -1 )

Why no names of the others? Were they partly or fully owned by politicians or governments?

0 ( +0 / -0 )

Curious that none of the car manufacturers seem to have complained...

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US govt are making a lot of money doing this kind of things lately.

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US govt are making a lot of money doing this kind of things lately.

Or you could say that there are many Japanese car related companies doing this kind of thing in the U.S. finally being caught.

I agree with StormR that the money should be distributed to those who bought the products, plus maybe a portion to cover prosecution and investigation costs

4 ( +4 / -0 )

Or you could say that there are many Japanese car related companies doing this kind of thing in the U.S. finally being caught.

US govt is the boss. They can interpret their own laws any ways they like. Maybe Japan's govt should do the same.

-4 ( +1 / -5 )

frontandcentre

Curious that none of the car manufacturers seem to have complained...

Well Toyota part owns a car carrier company called Toyofuji, so they probably have been lining there own pockets somewhere along the line.

They do ship for other manufacturers and also ship 1,000s of used cars each month.

The whole industry here is riddled with crooked practises from the dealers through the auctions and now it seems to the boats carrying the cargo to overseas destinations, its really just a reflection of the way things are done here in all aspects.

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RoRo services in/out Japan are also into price fixing, but the govt turns a blind eye to most price fixing here.

I figure the costs of price fixing, bid rigging, K/B, amakudari etc if gotten rid of & ALL costs passed onto us pee ons that your looking at 20-40% savings on average, all this stuff if VERY costly for consumers in Japan!

1 ( +2 / -1 )

US govt is the boss. They can interpret their own laws any ways they like. Maybe Japan's govt should do the same.

The government does not interpret laws, courts do. Price fixing has been illegal for a very long time in the U.S. , so it wasn't like it was just made up to hurt Japanese companies. In any case, these companies pleaded guilty.

As for your 'threat' I would love if Japan would also stopped price fixing and bid rigging, etc. Good idea!

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justbcuzisay, Of course I meant US courts. When US firm does something bad in Japan, Japan does not charge huge money, only suspension of business. But they should. These things should be reciprocal. Not a threat intended.

-3 ( +1 / -4 )

And some people want to know why imported cars in Japan cost so much more than domestic cars? Unfortunately, the Sherman act only applies to goods shipped to America, things shipped into and sold in Japan are all subject to these schemes. What a scam.

US govt is the boss. They can interpret their own laws any ways they like. Maybe Japan's govt should do the same.

American companies have been punished under the same law, and similar laws exist in every developed country in the world. Such laws even exist in Japan, but unlike the rest of the devloped world, Japan ignores these laws, and permits this practice. Do you like being ripped off?

2 ( +4 / -2 )

sangetsu, So you do admit they're ripping off Japanese companies. And you also admit it is a good thing that Japan's court do the same not only to US's but other countries' firms including Japan's.

-1 ( +2 / -3 )

sangetsu, So you do admit they're ripping off Japanese companies. And you also admit it is a good thing that Japan's court do the same not only to US's but other countries' firms including Japan's.

How much did you pay for a movie ticket the last time you went to a cinema? Was it 1800 yen? If you went to a cinema on the other side of the city and bought a ticket, how much would it cost? Would it still be 1800 yen? Yes it would. Why do all cinemas charge the same price?

If I go to a cinema in America, a ticket will cost anywhere from $2 to $12. All cinemas charge different prices in order to compete with each other. If two or more cinemas in America meet in secret and set their ticket price to be the same, it is a crime, and the theater owners will pay a large fine, and/or go to jail.

How do you feel when you have to pay 1800 yen for a movie ticket when an American or European pays half that much? Do you feel ripped off?

Price-fixing is corruption, and it is an unacceptible practice in developed countries where customers are supposed to determine the market value for goods and services. Companies which don't have to compete against each other are less likely to innovate or improve, or offer good products and valuemto their customers. This puts the entire economy at risk, especially in a world where there are more competitive emerging markets. This practice orf price-fixing is one the reasons Japan's economy is declining.

As far as I know, no foreign company has ever been charged with price-fixing in Japan. But few foreign companies have much access to the Japanese market, do they?

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I heard those J companies were confused with the verdict. I hope they'll close their branch offices there and come back. Japan should realize that US has a political risk as China and SK.

Movie tickets in Japan are higher yes, but more comfortable. Some theaters charge 1,000 yen on certain days or for women and elderly. I think you compare Japan with US too much.

I know many foreign companies doing business in Japan. If not, as you claim, then it's Japan's loss, isn't it? Who cares.

-3 ( +1 / -4 )

I heard those J companies were confused with the verdict. I hope they'll close their branch offices there and come back. Japan should realize that US has a political risk as China and SK.

Movie tickets in Japan are higher yes, but more comfortable. Some theaters charge 1,000 yen on certain days or for women and elderly. I think you compare Japan with US too much.

I know many foreign companies doing business in Japan. If not, as you claim, then it's Japan's loss, isn't it? Who cares.

The US has the same political risk as China? God, that is rich.

Yeah, Japanese companies should all pull back and stay hole up in Japan; that will work well considering Japan's declining economy and decreasing population.

0 ( +1 / -1 )

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