Japan's Fair Trade Watchdog Raids Bridgestone, Other Tiremakers

Japan’s Fair Trade Watchdog Raids Bridgestone, Other Tiremakers

Japan's fair trade watchdog on Thursday raided offices of Bridgestone Corp. and more than 10 other tiremakers on suspicion of rigging bids for supplies to the military, a government official said. The Fair Trade Commission launched raids on industry leader Bridgestone, Yokohama Rubber Co. Ltd., Toyo Tire and Rubber Co. Ltd. and more than 10 other tiremakers, the official said.

From Agence France-Presse

TOKYO — Japan’s fair trade watchdog on Thursday raided offices of Bridgestone Corp. and more than 10 other tiremakers on suspicion of rigging bids for supplies to the military, a government official said.

The Fair Trade Commission launched raids on industry leader Bridgestone, Yokohama Rubber Co. Ltd., Toyo Tire and Rubber Co. Ltd. and more than 10 other tiremakers, the official said.

“We allege that they have repeatedly rigged bids for tires ordered by the Defense Agency” in violation of the anti-monopoly law, the official said, without specifying the period.

The companies confirmed the raids but declined further comment.

“We would like to refrain from commenting on details as the investigation is still going on,” Bridgestone said in a brief statement.

The Defense Agency orders about $18 million worth of tires a year for military vehicles and airplanes, according to public network Japan Broadcasting Corp.

No immediate confirmation of the figure was available from the agency.

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