42 Japan Firms Engage in Bid-Rigging over Condo Repair Work
Tokyo, Sept. 28 (Jiji Press)--The Japan Fair Trade Commission recognized Monday that 42 companies had engaged in bid-rigging for large-scale repair contracts for condominiums, imposing fines totaling about 1.6 billion yen on 37 of the firms. The malpractice was found for repair work contracts for 171 condominium buildings in Tokyo and six prefectures around the Japanese capital. It was t...
Tokyo, September 28 (Jiji Press) - The Japan Fair Trade Commission has revealed that 42 firms have been found guilty of bid-rigging in the procurement of large-scale repair contracts for condominiums. The commission has imposed fines amounting to approximately 1.6 billion yen on 37 of these companies. The fraudulent activities were discovered in relation to repair work contracts for 171 condominium buildings in Tokyo and six surrounding prefectures.
This marks the first instance of the JFTC administering administrative punishment for such large-scale condominium repair contracts. In addition to the fines, the commission has also issued cease-and-desist orders to 38 of the 42 involved firms. Two of the implicated firms are specialized in consultation services - Renosys Corp., based in Osaka, and Sho-Sekkei Co., headquartered in Tokyo.
Among the other 40 construction firms are Haseko Reform Inc. and Shimizu BLC, both also situated in Tokyo. Out of the 37 fined companies, Ikatsu in Yokohama, the capital of Kanagawa Prefecture, which lies south of Tokyo, has received the highest penalty, totaling about 380 million yen.
Written by urgent.news from Nippon.com News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
