Japanese freight forwarders to be handed huge fines
02 / 03 / 2009
JAPAN’S Fair Trade Commission (FTC) has warned 10 Japanese freight-forwarding companies that it will fine them approximately ¥10 billion (US$107 million).
The companies are alleged to have operated a fuel-surcharge and airport-security price-fixing cartel between 2004 and 2007 after negotiating the arrangements during meetings at the Japan Aircargo Forwarders Association. The cartel was dissolved only after European and US authorities began to investigate in 2007. The FTC has been investigating the allegations since last year.
Three of the companies – Nippon Express, Kintetsu World Express and Yusen Air & Sea Service – held a combined share of nearly 50 per cent of the domestic forwarding market.