The Competition Commission of Singapore (“CCS”) issued an Infringement Decision against four Japanese bearings manufacturers and their Singapore subsidiaries (collectively, the “Parties”) for contravening 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 and sale of ball and roller bearings (“Bearings”) sold to aftermarket customers (“Aftermarket Customers”) in Singapore. CCS is imposing financial penalties totalling S$9,306,977 on the Parties for the infringement.
The Parties are:
- JTEKT Corporation and its Singapore subsidiary, Koyo Singapore Bearing (Pte.) Ltd. (collectively referred to as “Koyo”);
- NSK Ltd. and its Singapore subsidiary, NSK Singapore (Pte.) Ltd. (collectively referred to as “NSK”);
- NTN Corporation and its Singapore subsidiary, NTN Bearing-Singapore (Pte.) Ltd. (collectively referred to as “NTN”); and
- Nachi-Fujikoshi Corp. and its Singapore subsidiary, Nachi Singapore Private Limited (collectively referred to as “Nachi”)
Further information on the investigation, analysis of the case and the basis of calculation of the financial penalty imposed on the infringing parties are set out in the Infringement Decision.