Today the ACCC announced that it has appealed the Federal Court of Australia’s decision to fine Yazaki Corporation $9.5 million for collusive conduct. The ACCC’s appeal is to increase the amount of the fine significantly.
In a media release today, ACCC Chairman Rod Sims stated that in the ACCC’s view, Yazaki should be fined between $42 and $55 million for its collusive conduct. According to the ACCC, increasing the penalties by five to six times the original decision would be justified having regard to ‘the size of Yazaki’s operations and the very serious nature of its collusive conduct’, as well as the need for the penalties to serve as a strong deterrent to companies from breaking Australia’s competition laws.
On 9 May 2017, The Federal Court of Australia ordered Yazaki to pay penalties totalling $9.5 million for conduct which the Judge described as ‘deliberate, sophisticated and devious’. The collusive conduct was found by the Federal Court to include coordinating quotes to Toyota for the supply of electronic wiring harnesses used in the manufacture of the Camry.
The ACCC’s appeal will be heard on a date to be fixed by the Full Federal Court.