FTC raids 6 aluminum foil makers over alleged price cartel
Asian Economic News, Feb 14, 2005
TOKYO, Feb. 8 Kyodo
Fair Trade Commission investigators on Tuesday raided the offices of six aluminum foil makers and the industry body formed by the six companies in connection with their alleged formation of a price cartel in violation of the Antimonopoly Law.
The antimonopoly watchdog suspects that the six firms had talks to fix aluminum foil price hikes and implemented them simultaneously last year.
The six aluminum foil makers raided Tuesday are: Toyo Aluminum K.K., Mitsubishi Aluminum Co., Nippon Foil Mfg Co., Sumikei Aluminum-Foil Co., Tokai Aluminum Foil Co. and Sun Aluminum Ind Ltd. The industry body is the Aluminum Foil Industry Association, which consists of the six companies.
A Toyo Aluminum official said he does not know why the company was raided.
The six firms, together with one other company, control nearly the entire 100 billion yen Japanese aluminum foil market.
Aluminum foil prices, which had remained low over a long time due to an oversupply, have been rising since last year as international aluminum ingot prices have soared on the booming Chinese market.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
Presented by American Express