FTC raids 3 power cable makers over suspected cartel+

TOKYO, Jan. 29 Kyodo - The Fair Trade Commission on Thursday searched the head offices of three electricity power cable manufacturers and related locations over allegations that they had formed a cartel to prop up cable prices in collusion with
European companies.

The government watchdog raided about 30 locations linked to J-Power Systems
Corp., Viscas Corp. and Exsym Corp., which are alleged to have been involved in
the formation of a cartel to designate contractors for sales of cables to
connect power plants and substations.
The Tokyo-based companies, which dominate the domestic power cable market with
a combined share of nearly 100 percent, are believed to have customarily
engaged in collusive practices in the domestic and overseas markets in
violation of the Antimonopoly Law, sources close to the investigation said.
The FTC will move forward with its investigations in collaboration with
antimonopoly authorities in Europe and the United States, the sources said
without giving further details. The power cable market is estimated at roughly
10 billion yen in Japan and over 100 billion yen worldwide.
==Kyodo
2009-01-29 21:58:56