Japan seeks charges against ad firms over Olympics contracts | Business and Economy

Japanese authorities have alleged that the companies rigged tenders for 26 contracts worth $3.95 million.

Japan’s antitrust watchdog has filed criminal complaints against several advertising companies and individuals for alleged corruption during the planning and marketing of the Tokyo 2020 Olympic Games.

Japan’s Fair Trade Commission on Tuesday said it had filed complaints against six companies and seven individuals after determining that the “dangerous and serious incident” would have a “broad impact on people’s lives.” of everyone”.

The six advertising agencies named in the complaint are Dentsu, Hakuhodo DY Holdings, Tokyu Agency Inc, Fuji Creative Corporation, Cerespo Co and Same Two Inc.

The move comes after months of investigations by authorities into allegations that companies conspired to cheat tenders for upcoming Olympics events, in violation of Japan’s antitrust laws.

Authorities have alleged that bid fraud involved 26 supposedly open tenders worth 538 million Japanese yen ($3.95 million).

Earlier this month, prosecutors arrested a former Tokyo Olympics organizer and executive at Dentsu, Fuji Creative and Cerespo in connection with the case.

On Friday, Dentsu’s chief executive officer, Hiroshi Igarashi, admitted to prosecutors that his company had rigged tenders for contracts related to the Olympics, Kyodo News reported, citing the unnamed source close to the matter.

Dentsu, Cerespo and Fuji Creative have been banned from bidding for contracts for nine months at several government ministries.

The scandal follows the arrest of Haruyuki Takahashi, a former Olympic board member and chief executive officer of Dentsu, on suspicion of accepting bribes from sponsors.

The executives of advertising agency ADK Holdings, clothing retailer Aoki Holdings and publishing company Kadokawa have also been arrested in connection with the incident. bribery case.


Goz News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably.

Related Articles

Back to top button