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Title: Suspicions of Yakushi involved in Bid Rigging and Cartel Making; Japan Fair Trade Commission to Conduct On-site Inspection
Author:Ryu JP
Suspicions of Yakushi involved in Bid Rigging and Cartel Making; Japan Fair Trade Commission to Conduct On-site Inspection
Published on 2045/08/14, 14:27
Yakushi’s Logo
On the 14th, the Tokyo’s District Public Prosecutor's Office special investigation department, the Fair Trade Commission, and Tokyo Metropolitan Police Department Public Security Bureau’s Special Affairs Division launched a compulsory investigation against four companies under the Rigaiken Group: Rigaiken Medical, Murasame Synthesis Pharma, Murohashi Pharmaceutical Industries, and Shiroyama Health Care, as well as the Health Care Federation they’re part of, “Yakushi”, of violating the Antitrust Law (injust trade restrictions) and the Law against Unfair Use of Paratech.
The Tokyo’s District Public Prosecutor’s Office, the Japan Fair Trade Commission, and the Special Affairs Division conducted an on-site inspection due to suspicions regarding violations of the Antitrust Law (injust trade restrictions) and the Law against Unfair Use of Paratech, as it was suspected the four companies were colluding over open competitive bidding on research equipment ordered by the National Institute of Medical technology (NIMET) through Yakushi. In addition to the bid rigging, Yakushi forming a cartel were suspected, with the board of directors’ having their houses raided and interviewed on the same day.
The Japan Fair Trade Commission and the Tokyo’s District Public Prosecutor’s Office are questioning the people involved, and analyzing seized material to speed up the unravelling of the circumstances around the bid rigging suspicions. The Special Affairs Division believes there is a possibility that the paratech of the Rigaiken Group was unfairly used in the process of bid rigging, and has already conducted an on-site inspection on Rigaiken Computers.
According to those involved, the four companies have been constantly bidding between each other for several years, and the Japan Fair Trade Commission suspects that the companies had allocated groups of pharmaceutical drugs for which they would receive orders of.
NIMET’s total bid value is currently at around 75 billion yen. The winning bids of the joint bidding during June 2045 for Rigaiken Medical was 26,5 billion yen, 17,2 billion yen for Murasame Synthesis Pharma, 15,7 billion yen for Murohashi Pharmaceutical Industries, and 12,3 billion yen for Shiroyama Health Care.
Yakushi is suspected to be the biggest cartel in Japanese history, with 124 companies having joined it, and the Japan Fair Trade Commission believe the cartel may have been formed in order to raise the prices of drugs and medical equipment in order to secure their in-house profits.
The rise of the Nisso Group has put Yakushi into a difficult position. Rigaiken Medical, one of Yakushi’s coordinating companies, forecasts a consolidated operating profit of 12,4 billion yen for March 2046, a decrease of over 60% compared to the previous year.
The Foundation speaks
“Yakushi was originally established by the Foundation, but the Foundation has changed, and relations with Yakushi have grown distant. This is the result of Yakushi’s self-reliant decision-making power.”, a Foundation employee (From the public relations department) has said. Yakushi was initially established by the Foundation, and it was the Foundation that decided all of Yakushi’s policies and other such matters. However, the nature of the Foundation changed in 2041, following the 81Q5 event, and Yakushi broke apart from the Foundation. From then on, Yakushi gained decision-making powers, but at the time the companies composing it were small and didn’t have enough cash flow. Yakushi’s third-party and auditing organizations were a shell of their former selves, so it was only a matter of time.
The chance of Yakushi being dismantled is quite low. Yakushi is one of the giants of the healthcare industry competing with groups such as the foreign company Prometheus, or the healthcare industry leader, the Nisso Group, and many believe that this will result in merely a charge of 100-200 billion yen, as the dismantling of the group would damage the economy.
However, the damage to its management through the cease of requests by public institutions, falling stock prices and charges are not small, and Yakushi is sure to face difficult circumstances.
Yakushi has greatly contributed to the Japanese healthcare industry, but the way it has done this is now being put into question.
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