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US Justice Department penalises Canon (TYO:7751) and Toshiba (TYO:6502) for violating antitrust laws

  • In 2016, Toshiba sold its medical system subsidiary to Canon for about $6.1 billion, evading US notification guidelines.

The US Justice Department levied penalties of $2.5 million on Canon Inc. and Toshiba Corp. individually to settle the charges of violating US antitrust laws, after the companies failed to notify authorities of Toshiba’s intended sale of its medical system subsidiary to Canon. While Canon settled with gains of 1.19 per cent at ¥3,147, Toshiba advanced 0.59 per cent to close at ¥3,395 in Tokyo on Tuesday.