Antimonopoly Act investigation and surcharge-related risks concerning bids for recycled roll paper
First written in FY2024-Q3. 1 of 2 entries say "Materialised", first in FY2024. Latest entry: FY2024.
Kpp Group Holdings moved to the "Worse" side of this theme in 2024.
0 other companies' latest entry also says "Materialised".
- FY2024MaterialisedAnnual report
「On 14 March 2024, the JFTC issued us a surcharge payment order under the Antimonopoly Act and issued 国際紙パルプ商事株式会社 a cease-and-desist order.」
The matter progressed from the on-site inspection and draft-order stage through the previous quarter to the actual administrative sanctions of a surcharge payment order and a cease-and-desist order. - FY2024-Q3First statedAnnual report
「On 11 April 2023, in connection with a bid for recycled paper rolls ordered by the National Printing Bureau, an independent administrative agency, we were subject to an on-site inspection by the Japan Fair Trade Commission (JFTC) on suspicion of violating the Antimonopoly Act through an unreasonable restraint of trade. Since then, we have fully cooperated with the JFTC's investigation. On 26 December 2023, we received from the JFTC a notice of a hearing concerning a draft surcharge payment order under the Antimonopoly Act, while our consolidated subsidiary 国際紙パルプ商事 received from the JFTC a notice of a hearing concerning a draft cease-and-desist order under the Antimonopoly Act. Accordingly, we recognized a provision for the expected loss during the cumulative third quarter of the current consolidated fiscal year, although the impact on consolidated results is immaterial.」
The company disclosed for the first time the JFTC's on-site inspection concerning bids for recycled paper rolls, receipt of notices concerning draft surcharge payment and cease-and-desist orders, and recognition of a provision for the expected loss. The provision amount itself was not disclosed.