Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) pled guilty in Australian federal court to participating in a cartel that fixed prices for vehicle shipping.
“This is the first criminal charge laid against a corporation under the criminal cartel provisions of the Competition and Consumer Act,” ACCC Chairman Rod Sims said in a July 18 statement.
The ACCC continues to investigate other companies allegedly involved in fixing prices and allocating markets for transport of vehicles to Australia between July 2009 and September 2012, the agency said.
NYK faces a maximum fine of $10 million or three times its profits from ...
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