Hakuhodo Faces 200 Million Yen Fine in Olympic Bid-Rigging Case

Mar 18, 2024 | News On Japan

TOKYO - In the bid-rigging case surrounding the Tokyo Olympic and Paralympic Games, prosecutors have sought a 200 million yen fine for the advertising giant Hakuhodo as a corporation.

Hakuhodo and its former group company president, Kenichiro Yokomizo (56), are charged with colluding in the 2018 bidding for the test events and the main event's venue operations, along with Dentsu and five other companies and former vice-presidents of the Olympic Organizing Committee.

Today, considering the scale of transactions, social impact, and the disappointment caused domestically and internationally, the prosecution demanded a 200 million yen fine for Hakuhodo and a prison sentence of 1 year and 6 months for Yokomizo.

This is the first time that a corporate entity has been prosecuted in the series of bid-rigging cases.

In his final statement, Yokomizo said, "I would like a careful judgment to be made on whether this truly constitutes a violation of the Antimonopoly Act."

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