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Ad Giant Fined for Tokyo Olympic Bid-Rigging

TOKYO, Jul 11 (News On Japan) - In a bid-rigging scandal related to the Tokyo Olympics, the Tokyo District Court has sentenced major advertising company Hakuhodo to a 200 million yen fine for violating antitrust laws.

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Kenichiro Yokomizo, the former president of Hakuhodo and Hakuhodo DY Sports Marketing, has been charged with violating antitrust laws by engaging in illegal contract coordination for event management duties.

Hakuhodo had argued that careful consideration should be given to whether their actions constituted a violation of antitrust laws.

The Tokyo District Court handed down a 200 million yen fine to Hakuhodo as a corporation and sentenced Yokomizo to 18 months in prison with a three-year suspended sentence.

This is the first time a corporation has been sentenced in connection with this series of events.

Source: ANN

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