Toyobo : Regarding cease and desist order and surcharge payment order issued by Japan Fair Trade Commission
January 12, 2018 at 01:39 am EST
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Jan 12, 2018
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Toyobo STC Co., Ltd., a Toyobo Co., Ltd. subsidiary, today received a cease and desist order and a surcharge payment order from the Japan Fair Trade Commission (JFTC) in accordance with the Antimonopoly Act.
Toyobo STC fully cooperated with the JFTC investigation after the commission conducted an inspection on September 13, 2016, over suspicions that Toyobo STC and other uniform companies violated the Antimonopoly Act when they provided uniforms to East Japan Railway Co. (JR East) and West Japan Railway Co. (JR West).
We sincerely apologize to our shareholders, clients and other parties concerned for the anxiety and trouble Toyobo STC's actions have caused. We deeply regret this has occurred and are examining what steps we can take to ensure it does not happen again.
Orders issued by JFTC
1. Outline of cease and desist order
(1)
Uniforms for technical and inspection/repair positions for JR East
Toyobo STC has been ordered to confirm it has ceased practices that violated Article 3 of the Antimonopoly Act, which prohibits 'unreasonable restraint of trade,' and to take measures ensuring similar practices are not conducted in the future.
(2)
Uniforms for technical and inspection/repair positions for JR West
Same as (1).
2. Outline of surcharge payment order
(1)
Uniforms for technical and inspection/repair positions for JR East
Surcharge to be paid: ¥1.56 million
(2)
Uniforms for technical and inspection/repair positions for JR West
Surcharge to be paid: ¥2.33 million
Toyobo STC applied for a surcharge reduction under the JFTC system to that effect. As a result, the surcharges were reduced by 30 percent in the two cases mentioned above.
3. Toyobo's response
Toyobo takes the fact that the JFTC conducted an inspection on Toyobo STC in 2016 very seriously. Toyobo top management and the entire Toyobo Group has since worked hard to ensure every member of the group complies with all laws, including the Antimonopoly Act.
Toyobo solemnly and sincerely accepted these orders issued by the JFTC. Together with Toyobo STC, Toyobo will further strengthen measures to prevent any recurrence and work hard to regain the trust of our shareholders, clients and other parties.
For more information, contact:
Corporate Communication Department
Toyobo Co., Ltd.
pr_g@toyobo.jp
Toyobo Co. Ltd. published this content on 12 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 January 2018 06:39:06 UTC.
Original documenthttp://www.toyobo-global.com/news/2018/release_2170.html
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Toyobo Co Ltd is a Japan-based company mainly engaged in the film and functional resin business, industrial material business, and textile and commerce business. It has five business segments. Film and Functional Resin segment manufactures, processes and sells packaging films, industrial films, industrial adhesives, engineering plastics and optical functional materials. Industrial Materials segment manufactures, processes and sells automotive fiber materials, super fibers, non-woven fabrics. Textile and Trading segment manufactures and sells functional clothing, apparel products, clothing textiles, and clothing fibers. Healthcare segment manufactures, processes and sells bio products, pharmaceuticals, medical membranes, medical devices, aqua membranes, and functional filters. It is also engaged in the assembly and sale of seawater desalination modules. The Real Estate segment sells, rents and manages movables. It also designs and constructs buildings and machinery and sells equipment.
TOYOBO CO., LTD. 
