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NERA Insight Seminar Series | Role of Economic Analysis in Cartel and Bid-Rigging Cases
Tokyo, Japan
26 May 2023
Hosted By: NERA Economic Consulting
The Japan Fair Trade Commission (JFTC) continues to focus significant attention on detecting cartels and bid-rigging cases. For example, on 1 December 2022, the JFTC notified three electric power companies in Japan of a proposed disposition to order the payment of a surcharge and a cease-and-desist order on the grounds of collusion related to the supply of electricity to companies. On 28 February 2023, the JFTC filed a criminal complaint against six major advertising companies and seven people involved in a bid-rigging case on suspicion of unfair trade restrictions around the operation of the Tokyo 2020 Olympic and Paralympic Games. Most recently, on 11 April 2023, the JFTC conducted an on-site inspection of a paper manufacturing wholesaler because of increasing suspicions of collusion in bidding for official gazette papers.
If a cartel or bid-rigging case is exposed, risks include surcharges, fines, and criminal penalties, as well as possible litigation for damages after the fact and suspension of eligibility to participate in bidding. In the above bid-rigging cases related to the supply of power to companies, the JFTC imposed fines of over 100 billion yen on related electric power companies. In the Olympic bid rigging, the Tokyo Metropolitan Government announced it will claim damages.
The prevention and early detection of cartels and bid rigging, as well as the optimal post-incident response, are extremely important issues for company management. If you become a suspect, it is necessary to actively cooperate/respond to the investigation to avoid excessive surcharges and fines. If you become a victim, it is necessary to actively seek compensation for damages to avoid being pursued by your shareholders.
In this seminar, Dr. Hiroaki Ishigaki we will explain the current status of antitrust regulations on cartels and bid rigging, how regulators use economic analysis during investigations, and how to use economic analysis to mitigate risks and limit damages when allegations arise. Dr. Ishigaki will use the power supply and Olympic rigging cases as examples and draw on NERA’s deep experience representing our clients in these matters in Japan and abroad to explain these complex cases and highlight practical solutions.
Seminar Details:
Date: 26 May 2023
Time: 1:30–3:00 pm JST
Venue: Tokyo Midtown Conference Center
Please note this seminar will be in Japanese only.
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