Singapore fines Japanese ball bearing firms S$9.3 million for price-fixing

Singapore's anti-trust regulator fined three Japanese manufacturers S$9.3 million ($7.42 million) on Tuesday for taking part in a ball bearing pricing cartel, the latest move in a global investigation of price-fixing by car parts makers.
The Competition Commission of Singapore (CCS) fined Nachi-Fujikoshi Corp S$7.6 million, the largest fine the regulator has ever levied. NSK Ltd and NTN Corp were given smaller fines of S$455,652 and S$1.3 million respectively.

how i cured my premature ejaculation, best homeopathic medicine for premature ejaculation, medicine for premature ejaculation in india, pills for premature ejaculation india, antihistamine premature ejaculation, quick discharge medicine, mankind medicine for premature ejaculation, cipla medicine for premature ejaculation, last longer pills in india, dapoxetine in ayurveda, premature ejaculation doctor near me, best doctor for premature ejaculation in delhi, best doctor for premature ejaculation in india, premature ejaculation treatment in delhi, premature ejaculation treatment in india, best treatment for premature ejaculation in india, premature ejaculation treatment hindi, premature ejaculation treatment in Mumbai, premature ejaculation treatment cost, premature ejaculation surgery cost in india, sexologist Noida, sexologist in rohini, best sexologist in rohini, best sexologist in west delhi, dr pradhan urologist, sexologist in sultanpur, sexologist in gangaram hospital, erectile dysfunction treatment in delhi, can urologist treat premature ejaculation, urologist in paschim vihar, shock wave therapy for ed in delhi, ayurvedic clinic in delhi, delay pills amazon, best std clinic in delhi, nightfall treatment in delhi, hormone center laxmi nagar

Anti-trust regulators in Europe, the United States, Japan, and Canada among others have also been investigating anti-competitive behaviour by car parts makers.
The Singapore ruling follows a previous case against NTN, NSK Ltd, and Nachi-Fujikoshi Corp, brought in March by the European Union's Competition Commission. That case saw NTN fined 201.35 million euros ($274.87 million), NSK fined 62.4 million euros and Nachi-Fujikoshi fined 3.96 million euros.
According to Singapore's antitrust watchdog, the four Japanese companies had been meeting regularly in Japan since 1980 to fix prices in order to maintain their market share and protect their profits.
CCS was alerted to the price-fixing after receiving an application by Koyo Singapore Bearing Ptd Ltd, a subsidiary of Japan's JTEKT Corp, under its leniency programme, which grants partial or full immunity from financial penalties to the applicant.
"The infringing conduct was a secretive and sophisticated cartel where the participants engaged in covert conduct, including referring to each participant by code names, unlike previous CCS price-fixing cartels," the commission said in a statement.
The sanctions also mark the first time the watchdog has taken on companies based outside of Singapore.
Calls to the Singapore subsidiaries of NSK and NTN went unanswered on Tuesday. Nachi Singapore's management could not be reached for comment, while officials at Koyo said the company was unaware of the ruling.
Lawyers said Singapore's CCS, which was established in 2005, is starting to ratchet up its enforcement policy and take on bigger cases.
"Clearly the honeymoon period is over and they will want to crackdown on any such cartels which come to their attention" said Ken Chia, a lawyer with Baker and McKenzie. "This is the first case involving a foreign cartel, but we expect more soon".
($1 = 1.2530 Singapore dollars)
($1 = 0.7325 euros) (Reporting By Andrew Toh; Editing by Matt Driskill)