Along with NYK and Wallenius Wilhelmsen Logistics, JFTC charged K Line with violating the Antimonopoly Act of Japan article 3, entitled “Unreasonable Restraint of Trade”, after a raid on the firms’ headquarters on 6 September 2013.
Meanwhile WWL and NYK are likely to serve fines of JPY3.3bn and JPY13.5bn, respectively.
According to JFTC, the firms have been fixing car carrier rates for Japanese carmakers on a route-by-route basis since 2009. MOL and WWL subsidiary Eukor Car Carriers have also been implicated in the investigation.
In a company statement, K Line reported that its ceo, directors and executive officers have variously returned between 10 and 30% of their monthly salaries in the wake of the charges. “K Line regards the situation with the utmost gravity and will take comprehensive measures to ensure strict compliance with all applicable laws and regulations," the company said. "We express our sincere regret for the concern this matter has caused to our customers, shareholders and concerned parties."
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