Japan's Kyushu Electric Power says no fine reported

TOKYO Japan's Kyushu Electric Power Co said on Monday it would cooperate with the regulators' investigation and has not received any notification of antitrust fines from the Fair Trade Commission.

Kyushu Electric Power said it is under investigation and it will announce any information quickly if necessary.

The Fair Trade Commission did not comment on a report Friday in The Nikkei. The commission has decided to fine three major utility firms, including Kyushu Electric Power, tens of billions of yen in total for breaching antitrust laws.

The newspaper reported that the regulators will penalise Kyushu Electric Power, Chugoku Electric Power Co and Chubu Electric Power Co for not expanding in each other's industrial power supply markets.

Any possible penalty would add to the financial pain stemming from rising fuel procurement costs, as fuel energy prices have soared and the yen has weakened.