Japan Sesame Oil Makers Ordered to Scrap Price Cartel
Tokyo, May 14 (Jiji Press)--Japan's Fair Trade Commission on Wednesday issued a cease and desist order to sesame oil makers Kadoya Sesame Mills Inc. and Takemoto Oil & Fat Co. for allegedly forming a price cartel.
Industry leader Kadoya was also fined 21.98 million yen. No fine was imposed on Takemoto because it voluntarily reported its law breaches under a leniency program before the FTC's investigations began.
According to the FTC, the two companies violated the antimonopoly law by repeatedly conspiring to raise the prices of sesame oil sold to food makers S&B Foods Inc. and Marumiya Corp. The two also raised the prices of sesame oil and roasted sesame sold to sauce maker Fundokin Shoyu Co.
Kadoya and Takemoto account for 100 pct of the sesame oil products the three client companies procure. Roasted sesame supplied to Fundokin Shoyu is supplied by the two companies almost entirely.
The antitrust watchdog said that Kadoya and Takemoto formed the cartel in order to secure profits amid rising sesame prices due to production cuts caused by political unrest in Africa and a weaker yen.
(2025/05/14-23:42)
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05/14 23:42 Japan Sesame Oil Makers Ordered to Scrap Price Cartel -
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