Sources familiar with the matter said that the Fair Trade Commission told three major domestic power utilities Thursday it plans to impose a record antitrust fine of about 100 billion on them for forming a price cartel.
The figure is larger than the fine of 39.9 billion handed to eight major Japanese road-paving companies in 2019 for fixing asphalt mixture prices.
The sources said that Chugoku Electric Power is expected to be slapped with a fine of some 70 billion. The sources said that Chubu Electric Power and a subsidiary will likely be fined a total of 27.5 billion, while Kyushu Electric Power is expected to pay around 2.7 billion.
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