11 hours ago
FTC fines Dentsu Group and others ¥3.3 billion
The Fair Trade Commission on Monday slapped fines totaling ¥3.3 billion on advertising giant Dentsu Group Inc. and six other ad agencies and event organizers for bid-rigging over the Tokyo Olympics and Paralympics.
The six are Dentsu Group's Dentsu unit, Cerespo, Fuji Creative, Hakuhodo, Same Two and Tokyu Agency.
The FTC also found an antimonopoly law violation by ADK Marketing Solutions but refrained from imposing a fine on the firm as it declared the violation before the antimonopoly watchdog launched its probe.
Of the eight companies, the seven other than Dentsu Group received cease and desist orders.
According to the commission, the firms rigged bids in April 2018 and after to select winners of orders for planning test events for the Olympics and Paralympics and had the winners also undertake event venue operations at the Games.
Dentsu Group is alleged to have played lead roles in the anticompetitive practices together with the then-deputy chief of the Tokyo Games organizing committee, who has already been convicted.
The company said Monday it will file for a lawsuit against the FTC fine and order.
Antimonopoly trials against Dentsu Group and five other firms as well as their officials involved are underway.
