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Nippon Sheet Declines on EU Fines for Price-Fixing (Update1)
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June 24 (Bloomberg) -- Nippon Sheet Glass Co., the world's largest maker of car windows, fell the most in a month in Tokyo trading as European regulators may fine the company and its rivals for price-fixing as early as next month.
The shares fell 3.6 percent to close at 485 yen on the Tokyo Stock Exchange, the biggest decline since May 23. Tokyo-based Nippon Sheet had the second-largest decline in Japan's benchmark Nikkei 225 Stock Average.
Nippon Sheet's Pilkington unit, Asahi Glass Co. and Cie. de Saint-Gobain SA will be fined by the European Commission, the EUìs antitrust authority, as soon as July 16, said three people, who can't be identified because the draft decision isn't public.
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June 30th, 2008
Source: Bloomberg |
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