Japan’s Kansai Electric Raided In Antitrust Probe

Japan’s Kansai Electric Power and Chubu Electric Power confirmed on Tuesday, April 13, that their offices were raided by antitrust regulators.

Authorities investigated Kansai on suspicion of having prevented competition in the high-voltage power segment in Chubu, Kansai, and Chugoku areas in western and central Japan, the utility said in a statement.

“We solemnly accept the raid and we will fully cooperate with the investigation,” a company spokeswoman said, without elaborating on the investigation.

Chubu and its unit were also raided on suspicion of violations of the antimonopoly act in the high-voltage electricity market in Chubu and other regions as well as in low-voltage power and city gas markets in the Chubu region, it said in a statement.

Media reports said the utilities had prevented competition by agreeing to not go after each other’s high-voltage power customers such as factories and other business owners, thereby preventing price cuts amid deregulation.

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