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China Fines NSK, NTN for Violating Anti-Monopoly Rules
China's National Development and Reform Commission has levied fines of 2.9 billion yen ($28 million) against NSK Ltd. and 1.9 billion yen ($18 million) against NTN Corp. for overcharging customers for its automotive bearings.
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China's National Development and Reform Commission has levied fines of 2.9 billion yen ($28 million) against NSK Ltd. and 1.9 billion yen ($18 million) against NTN Corp. for overcharging customers for its automotive bearings.
The levies are the latest in a continuing list of carmakers and suppliers found guilty of violating China's 6-year-old anti-monopoly laws. More announcements are expected this week.
In March antitrust European Union antitrust authorities fined NTN and NSK $268 million and $83 million, respectively, for fixing prices on bearings. NSK Also was fined $68 million by the U.S. Dept. of Justice for rigging prices.
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