Japan's four major bearing manufacturers investigated for alleged price monopoly

In recent days, Japan’s four large bearing manufacturers have been subject to mandatory investigations by the Japan Fair Trade Commission because of alleged price monopoly and violation of the “Anti-Monopoly Law” in bearing transactions. According to relevant sources in the industry, after entering the economic recession in 2009, the four manufacturers continued to raise commodity prices and explained to the ordering party: “In this way, the price of the world’s leading companies is closer to the market”.

The Fair Trade Commission believes that the explanation is suspected to create an excuse to drive up prices and is currently investigating.

According to relevant sources, Japan Seiko Co., Ltd., NTN Co., Ltd., JTEKT Co., Ltd. and Fujikate Co., Ltd. are allegedly involved in the negotiations to raise the price of their products before and after 2004. Each company also sells products to wholesalers to produce “pricing sheets” according to specifications, and the prices of “pricing sheets” will be uniformly raised every spring.