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China Levies Record Antitrust Fine on Japanese Firms

China found a dozen Japanese auto-parts makers guilty of price fixing and doled out the biggest antitrust fines in the country since relevant rules came into effect six years ago.

Total fines amounted to 1.24 billion yuan ($200 million), the National Development and Reform Commission, China’s main economic planner, said on its website. Sumitomo Electric Industries Ltd. drew the heaviest fine at 290.4 million yuan -- the biggest-ever antitrust penalty for a single company -- followed by Yazaki Corp.