Japan's Fair Trade Commission has reportedly to censure Nissan Motor for unlawfully cutting payments to parts suppliers. The estimated amount of the reductions is about three billion yen, or about 20 million dollars.
Sources say the automaker unilaterally slashed several percent off predetermined prices it was supposed to pay dozens of suppliers for wheels and other auto parts.
The practice is said to have continued for several years.
The Subcontract Act bars companies from unilaterally reducing payments to suppliers without cause. The Fair Trade Commission is expected to soon issue an advisory ordering the company not to repeat the practice.
The source says the carmaker has accepted the regulator's findings. Nissan says it has already reimbursed its suppliers in full.
Sources say the automaker unilaterally slashed several percent off predetermined prices it was supposed to pay dozens of suppliers for wheels and other auto parts.
The practice is said to have continued for several years.
The Subcontract Act bars companies from unilaterally reducing payments to suppliers without cause. The Fair Trade Commission is expected to soon issue an advisory ordering the company not to repeat the practice.
The source says the carmaker has accepted the regulator's findings. Nissan says it has already reimbursed its suppliers in full.
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Summary
Japan's Fair Trade Commission is reportedly set to censure Nissan Motor for illegally reducing payments to parts suppliers, estimated at approximately $20 million. The automaker allegedly unilaterally cut several percent off predetermined prices with dozens of suppliers for wheels and auto parts
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ID: 6f185744-ffc3-4b11-9a5c-78ff90433542
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240304_29/
Date: March 4, 2024
Created: 2024/03/04 19:00
Updated: 2025/12/08 16:55
Last Read: 2024/03/05 16:19