5 Japanese Oil Distributors Admit Price Cartel in Trial
Tokyo, Sept. 3 (Jiji Press)--Five Japanese oil distributors admitted forming a price cartel for gas oil sold to transport and other companies in Tokyo, at the first hearing of their trial at Tokyo District Court on Thursday. East Japan Usami Co. and Kyoei Sekiyu of Tokyo, Eneos Wing Corp. of the central city of Nagoya, Enex Fleet Co. of the western city of Osaka and Kitaseki Co. of the nort...
Tokyo, September 3 (Jiji Press) - Five Japanese oil distributors confessed to conspiring to fix prices for gas oil sold to transport and other businesses in the capital, according to the opening statements of their trial at Tokyo District Court on Thursday. East Japan Usami Co., Kyoei Sekiyu of Tokyo, Eneos Wing Corp. from Nagoya, Enex Fleet Co. from Osaka, and Kitaseki Co. from Miyagi Prefecture are accused of breaking the antitrust law.
No individuals were charged in the case. Prosecutors allege that employees of the five companies agreed to increase gas oil prices and limit price cuts for transporters and other clients between October and December 2024. They claim that, in the oil industry, informal gatherings known as "F-kai" have occurred periodically since around November 2012 or earlier to share average sales prices and negotiate with clients.
In Tokyo, marketing staff from eight companies, including the five defendants, reportedly held monthly private meetings called "Chuo-kai" in restaurant conference rooms since October 2019, as per the prosecution's account.
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