Hakuhodo Inc. was fined 200 million yen by the Tokyo District Court in the Olympics bid case.

3 comments

1. I’m sure the bowing they’ll do in front of the cameras is going to be impressive….

2. Acceptable cost of business, I’m sure.

3. Machine translation:

   > In a bid-rigging case surrounding the Tokyo Olympic and Paralympic Games, the Tokyo District Court sentenced advertising giant Hakuhodo to a 200 million yen fine and the former president of a group company to one year and six months in prison with three years of probation.

   > Hakuhodo and the former president of the group company, Kenichiro Yokomizo (57), along with five other companies including Dentsu and the former deputy director of the Tokyo Organizing Committee, are accused of colluding in the 2018 bidding for the test tournament and venue management of the main tournament.

   > In today’s ruling, the Tokyo District Court sentenced Hakuhodo to a 200 million yen fine and Yokomizo to one year and six months in prison with three years of probation, citing “a large-scale bid-rigging case involving contracts totalling 43.7 billion yen, and a large degree of obstruction to fair and free competition.” This is the first time that a company has been sentenced in a bid-rigging case surrounding the Tokyo Olympic and Paralympic Games.