Japan Insurers Face Cease-and-Desist Order for Antitrust: Nikkei

Japan’s Fair Trade Commission has decided to give cease-and-desist orders to 4 Japanese casualty insurers after determining they breached antitrust law by fixing prices in contracts with corporate clients, Nikkei reports, citing an unidentified person.

• Companies are Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance
• Won’t be fined because the violations were minor
• FTC has notified the companies of its decision and will give them a chance to respond before making it final
• Spokespeople for the companies said they’re cooperating with the FTC but declined to comment further when contacted ...