Bridgestone – Marine Hose Cease and Desist Orders Arrive

Bridgestone Corporation announced on February 22 that the previous day it received orders from Japan’s Fair Trade Commission in connection with the sales of marine hose from December, 1999 to May, 2007. The orders directed the company to cease and desist from violating of the Antimonopoly Act and to pay surcharges for violating the Act.

The company states that the group “take these orders seriously,” adding: “We will re-double our efforts to achieve and sustain compliance with all laws to meet our legal and moral requirements so as to recover the confidence of all stakeholders.” Bridgestone says it will review the content of these orders and then determine how best to proceed.