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JFTC surcharged manufacturers of cold-rolled stainless steel sheets

March 11/2005
Japan Fair Trade Commission

The Fair Trade Commission of Japan (JFTC), on 11 March 2005, ordered 6 manufacturers to pay surcharges regarding fixing the prices of cold-rolled stainless steel sheets and steel strips (excluding cold-rolled narrow strips)(See Note), based on Section 48-2 (1) of the Antimonopoly Act.

1. Violations related to the surcharge
(Recommendation: 2 December 2003, Decision: 27 January 2004)

 The 6 companies mentioned in Item 2 below had agreed on mark-ups of selling price of cold-rolled stainless steel sheets to distributors or users (except for ones for car manufacturers and large-scaled electronic manufacturers) and thus had been substantially restricting the competition in the trading field of cold-rolled stainless steel sheets and steel strips in Japan (violation of Article 3 of the Antimonopoly Act).

2. Total amount of Surcharges

Violator Address of headquarter Surcharge (JPY)
Nissin Steel Co., Ltd. 3-4-1, Marunouchi, Chiyoda-ku, Tokyo 1,607.52 Million
Nippon Steel Corporation 2-6-3 Otemachi, Chiyoda-ku, Tokyo 1,284.69 Million
Nippon Yakin Kogyo Co., Ltd. 1-5-8 Kyobashi, Chuo-ku, Tokyo 1,107.59 Million
Nippon Metal Industry Co., Ltd. Shinjuku Mitsui Building
2-1-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo
1,035.43 Million
Sumitomo Metal Industries, Ltd. 4-5-33 Kitahama, Chuo-ku, Osaka 977.16 Million
JFE Steel Corporation 2-2-3 Uchisaiwai-cho, Chiyoda-ku, Tokyo 764.33 Million
Total 6,776.72 Million

3. Deadline for payment
 9 May, 2005

 (Note)Cold-rolled stainless steel sheets and steel strips are corrosion- and heat-resistant alloys consisted mainly of iron and chrome. There are two types of such steels and strips: one is mainly made of iron, chrome and nickel. The other is mainly made of iron and chrome.

*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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