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Japan

PACIFIC WATCH

March 16, 1992|From Times Staff and Wire Reports

Fines for Illegal Monopolies to Increase Twentyfold: Responding to U.S. criticism that illegal monopolies face light penalties in Japan, the Fair Trade Commission said it plans to increase the maximum fine twentyfold to $752,000. The change is the latest in a series of steps Japan has taken to make it costlier for businesses to engage in anti-competitive practices. Last year, the government raised the surcharges that will be levied on sales made by companies found to be operating in illegal cartels--to 6% from 1.5%. It also imposed prison terms of up to three years for violators.

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