Tokyo Court Fines Advertiser Hakuhodo Over Olympics Bid-Rigging

A Japanese court found advertising giant Hakuhodo guilty of rigging bids for the Tokyo Olympics, the first such verdict in a series of scandals over the pandemic-delayed Summer Games, which were held in 2021.

The Tokyo District Court on Thursday found Hakuhodo guilty of violating the anti-monopoly law and ordered the firm to pay ¥200 million ($1.24 million), according to a court spokesperson, who asked not to be identified in line with court practice. The court also handed former executive Kenichiro Yokomizo a suspended prison sentence of one and half years.

The verdict in the Tokyo case comes two weeks ...