Japan anti-trust regulator accepts Amazon improvement plan
Japan’s Fair Trade Commission (JFTC) remarked that it has accepted Amazon Japan’s plan to improve business practices suspected of violating anti-trust rules.The unit of Amazon.com Inc. was raided by the JFTC, the anti-trust regulator, in 2018 on suspicion the company demanded that suppliers should share a part of the cost incurred from selling their products at a discount on the e-commerce company’s website.
The regulator said that Amazon Japan’s plan includes the return of 2 billion yen (USD 18.85 million) to about 1,400 vendors. Theregulatory filing said that Alexander, who is the co-chief executive officer of IronNet Cybersecurity Inc., will serve on Amazon’s audit committee. Alexander has also worked as the chief of the US Cyber Command in addition to heading the Central Security Service.
Not only Japan but Amazon has also been fined by UK regulator over tardy documents release in the Deliveroo probe.The competition regulator of Britain fined Amazon 55,000 pounds, which is about USD 72,364 after Amazon delayed an investigation into its purchase of a 16 percent stake in food platform Deliveroo by failing to produce documents on time.
The regulator rebuked that 189 documents, which included substantial information relevant to its Phase 2 Amazon and Deliveroo merger probe, were not produced until after the initial deadline by the company.The Competition and Markets Authority ultimately cleared Amazon’s stake purchase on August 16 many months after the company led a USD 575 million fundraising in Deliveroo.
The regulatory added, “Although Amazon did ultimately provide all of the information required, the CMA considers that Amazon’s behavior caused unnecessary delays to the CMA’s investigation.”
Amazon of late has been accused of inflating the price on essential items like toilet paper and antibacterial soap in a report by consumer rights group Public Citizen.It was seen that between May and August, prices on some items more than quadrupled in price, seemingly breaking Amazon’s own Fair Pricing Policy.The report analyzed over a dozen products, including those sold by third-party sellers and items listed as sold by Amazon.
Amazon.com, Inc., is a multinational technology company based in the US. Amazon founded by Jeff Bezosfocuses on e-commerce, cloud computing, digital streaming, and artificial intelligence sectors.