TOKYO ? Yusen Logistics will not appeal an antitrust ruling by the Tokyo High Court to the Supreme Court, the Japanese freight forwarder said Thursday.
The announcement came two weeks after the Tokyo High Court upheld an antitrust decision by the Japan Fair Trade Commission against the company.
“After close examination and careful deliberation, the company decided not to appeal the Tokyo High Court judgment, taking a comprehensive set of factors into consideration, even though the company is not completely satisfied with the judgment,” Yusen said in a statement. “The company takes this case seriously and will further improve and promote its compliance system, while complying with laws and ordinances,”
The JFTC in March 2009 ordered 12 international forwarders, including Yusen, to pay a total of $113.2 million in administrative fines for forming a cartel to raise air cargo charges. Yusen was ordered to pay $21.6 million.
But Yusen, the logistics arm of NYK Line, concluded it could not accept the JFTC’s cease-and-desist and fine orders and filed a complaint with the commission in April 2009, demanding the antitrust authority’s initiation of quasi-judicial hearings to review the orders.
In July 2011, the commission handed down a ruling dismissing Yusen’s complaint against the orders. The company quickly appealed the JFTC ruling to the Tokyo High Court.