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JFTC issues a Recommendation to POSFUL Corporation against unfair trade practices Corporation

March 25/2004
Japan Fair Trade Commission

The Fair Trade Commission, following an investigation into POSFUL Corporation (hereinafter “POSFUL”) today issued a recommendation to the company against its violation of Section 19 of the Antimonopoly Act (applied by Paragraphs 2 of the Specified Unfair Trade Practices in the Department Store Business) based on Section 48 (2) of the Act.

1. Concerned Party

 (1)Name: POSFUL Corporation (former trade name: MYCAL Hokkaido K.K.)
 (2)Address: Shiraishi ward, Sapporo City
 (3)Business: retail of clothing and dresses, food and groceries, etc. (general merchandising store)

2. Description of Violation

 In transactions to deliver clothing and dresses, POSFUL paid suppliers of clothing and dresses, which had a bargaining position inferior to that of POSFUL, prices for clothing and dresses that were obtained by subtracting a certain amount from the actual prices of clothing and dresses delivered based on prices agreed in advance, despite no liabilities being incurred by said suppliers of clothing and dresses.

3. Summary of Measures to Eliminate the Violation

(1) POSFUL should advise suppliers of clothing and dresses that POSFUL refrains from the acts described in 2 above, and will refrain from any act similar to the acts described in 2 above in the future.

(2) POSFUL should refrain from any act similar to the acts described in 2 above in the future.

(3) POSFUL should establish a code of conduct concerning compliance with the Antimonopoly Act to refrain from any act similar to the acts described in 2 above in the future, and should take necessary measures to provide training on the Antimonopoly Act to its purchasing staff and have its legal staff conduct periodical audits based on the code of conduct, and should make the details of these measures known to its directors and employees without exception.

4. Deadline for accepting or rejecting the recommendation

 April 5, 2004

 (Where the recommendation is accepted, a decision that is the same as the recommendation will be made.
Where the recommendation is rejected, hearings will be initiated.)

*Every announcement is tentative translation. Please refer to the original text written in Japanese.

Japan Fair Trade Commission:

100-8987 1-1-1 Kasumigaseki, Chiyoda-ku, Tokyo,Japan
Tel: +81-3-3581-1998
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