BUSINESS DEFEATS ANTIMONOPOLY LAW REVISION AGAIN
KEYWORDS: ANTITRUST, FTC, FAIR TRADE COMMISSION, ANTIMONOPOLY LAW.

The latest attempt by the Fair Trade Commission to amend the Antimonopoly Law has been stonewalled by business interests. Business interests are extremely influential with the long ruling, and now dominant party in the ruling coalition, the Liberal Democratic Party. The FTC primarily wanted to strengthen penalties on violating firms. Japan’s penalties compared to its counterparts in the USA and Europe are slaps on the wrist. While the US takes 15-80% of sales of the violating product, the EU imposes a fine of 10% of the violating company’s total sales. For Japan, the fines are 6% of the sales of the violating product for large firms, and 3% for smaller firms. Thus during 2000-2003 the average fine in the EU was 2.77 billion yen, while in Japan it was 37.93 million yen. The FTC wanted to raise to 20% for large corporations, the most dangerous of course. In the end, it agreed to raise it from 6% to 10%. It was still stonewalled. It is also attempting to introduce a program similar to in the US, going softer on those who cooperate in an investigation. According to the plan, the first to volunteer and turn in the others would be totally left off. The second firm would have its fine cut by 50%, and the third by the 30%.
They would have to provide detailed information.

Copyright 2005. All rights reserved Attorney Roderick H. Seeman

DISCLAIMER JapanLaw.info is intended purely for introductory, educational purposes. If you plan a transaction in Japan, consult with a licensed Japanese attorney. THIS PUBLICATION IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. THIS PUBLICATION COULD INCLUDE INACCURACIES OR ERRORS IN TYPOGRAPHY OR TRANSLATION .