16 December 2013
(View Media Release in PDF)
1. The Competition Commission of Singapore (CCS) has issued a Proposed Infringement Decision (PID) against four Japanese bearings manufacturers and their Singapore subsidiaries (“Parties”). The companies were found to have infringed section 34 of the Competition Act (Cap.50B) (the “Act”) by engaging in anti-competitive agreements and unlawful exchange of information in respect of the price of ball and roller bearings sold to customers in Singapore. Ball and roller bearings are machine components that separate moving parts and take up loads. Both parent and subsidiary company were found to be jointly and severally liable for the infringement.
2. CCS commenced its investigations into the Parties after receiving an application for immunity under CCS’s leniency programme from one of the companies involved in the cartel. CCS’s investigation revealed that the Parties were competitors and met regularly at meetings both in Japan and Singapore where they exchanged information; discussed and agreed on sales prices for ball bearings sold to their respective customers in Singapore, so as to maintain each participant’s market share and protect their profits and sales.
3. The PID is a written notice setting out the facts on which CCS makes it assessment and its reasons for arriving at the proposed decision. It is issued to give the parties concerned, an opportunity to submit their arguments to CCS, and provide any other information for consideration, before CCS finalises its decision on whether there has been an infringement.
4. In this regard, all the Parties have six weeks from the receipt of the PID to make their representations. Please refer to the attached Appendix for the list of Parties involved.
About The Competition Commission of Singapore (CCS)
CCS is a statutory board established under the Competition Act (Chapter 50B) on 1 January 2005 to administer and enforce the Act. It comes under the purview of the Ministry of Trade and Industry. The Act empowers CCS to investigate alleged anti-competitive activities, determine if such activities infringe the Act and impose suitable remedies, directions and financial penalties.
CCS’s leniency programme incentivises undertakings involved in cartels to provide CCS with evidence of their cartel activities. The benefits for successful applicants would be immunity from financial penalties or a reduction in the financial penalty depending on when they applied to CCS.
For more information, please visit www.ccs.gov.sg.
For media clarification, please contact
Ms. Grace Suen
Assistant Director
Strategic Planning Division
Competition Commission of Singapore
Email: grace_suen@ccs.gov.sg
DID: 6325 8216/ 9835 8601
Appendix
List of Parties Involved:
1. JTEKT Corporation and its Singapore subsidiary, Koyo Singapore Bearing (Pte) Ltd
2. NSK Ltd. and its Singapore subsidiary, NSK Singapore (Pte.) Ltd.
3. NTN Corporation and its Singapore subsidiary, NTN Bearing-Singapore (Pte) Ltd
4. Nachi-Fujikoshi Corp and its Singapore subsidiary, Nachi Singapore Private Limited.