Japan anti-trust regulator accepts Amazon Japan improvement plan | Tech News

Japan anti-trust regulator accepts Amazon Japan improvement plan

Japan's anti-trust regulator has given its go-ahead to Amazon Japan's improvement plan.

By:REUTERS
| Updated on: Aug 20 2022, 22:49 IST
Japan FTC approves Amazon Japan's plan to improve business practices
Japan FTC approves Amazon Japan's plan to improve business practices (REUTERS)

Japan's Fair Trade Commission (JFTC) said on Thursday it has accepted Amazon Japan's plan to improve business practices suspected of violating anti-trust rules.

The unit of Amazon.com Inc was raided by the JFTC in 2018 on suspicion the company demanded that suppliers should shoulder part of the cost incurred from selling their products at a discount on the e-commerce company's website.

You may be interested in

MobilesTablets Laptops
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Amazon Japan's plan includes the return of 2 billion yen ($18.85 million) to about 1,400 vendors, the regulator said.

Also read
Looking for a smartphone? To check mobile finder click here.

Ex-NSA chief Keith Alexander joins Amazon board

Amazon Inc said on Wednesday former National Security Agency chief Keith Alexander has joined the e-commerce giant's board. 

ALSO READ: Amazon fined by UK regulator over tardy documents release in Deliveroo probe

Alexander, who is the co-chief executive officer of IronNet Cybersecurity Inc, will serve on Amazon's audit committee, it said in a regulatory filing. 

ALSO READ: Amazon expanding to 25,000 workers in Seattle suburb

The four-member audit committee, headed by ex-Reader's Digest chief Thomas Ryder, includes former PepsiCo CEO Indra Nooyi. 

Alexander has served as the commander of the U.S. Cyber Command in addition to heading the Central Security Service.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 10 Sep, 12:18 IST
Tags:
NEXT ARTICLE BEGINS