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Central Japan Railway Company ( (JP:9022) ) has shared an update.
Central Japan Railway Company and its subsidiary JR Central Consultants have been sanctioned by the Japan Fair Trade Commission for violating the Antimonopoly Act in connection with bidding for overpass inspection work on the company’s railway lines commissioned by local governments. Authorities found that the railway group effectively predetermined winning contractors among five firms and that JR Central Consultants coordinated pricing to secure orders, leading to a cease and desist order for both entities and a surcharge payment order of 34.77 million yen for JR Central Consultants, partially reduced under a leniency program. In response, both companies state they have already halted the offending conduct and will introduce new Antimonopoly Act compliance guidelines, create or strengthen dedicated compliance functions, and implement periodic training and audits, while the parent company expects only a minor impact on its overall business performance despite JR Central Consultants booking a 135 million yen provision related to the case.
The most recent analyst rating on (JP:9022) stock is a Buy with a Yen4722.00 price target. To see the full list of analyst forecasts on Central Japan Railway Company stock, see the JP:9022 Stock Forecast page.
More about Central Japan Railway Company
Central Japan Railway Company is a major Japanese rail operator listed on the Prime Market of the Tokyo Stock Exchange and the Premier Market of the Nagoya Stock Exchange, providing conventional railway services in central Japan. Its consolidated subsidiary JR Central Consultants Company engages in consulting and inspection work related to the group’s railway infrastructure, including overpass inspection projects commissioned by local governments and other public entities.
Average Trading Volume: 2,759,733
Technical Sentiment Signal: Buy
Current Market Cap: Yen4330.6B
Learn more about 9022 stock on TipRanks’ Stock Analysis page.