Toshiba loses court appeal against EU cartel fine on joint venture

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By Waverly Colville | BRUSSELS

BRUSSELS Japanese consumer electronics group
Toshiba on Wednesday lost an appeal against an EU
cartel fine levied on its joint venture with Panasonic five years ago, after Europe’s highest court said it had
decisive influence over the business.

The company was part of a group of seven cathode ray tube
makers fined a total 1.47 billion euros by the European
Commission in 2012 for fixing prices and restricting output for
cathode ray tubes for televisions and computer screens for a
decade.

Toshiba subsequently challenged the EU competition
enforcer’s ruling at the Luxembourg-based General Court which
cut the fine imposed on its MTPD joint venture to 82.8 million
euros ($88.5 million) from 86.7 million euros.

Toshiba later appealed to the Court of Justice of the
European Union (ECJ), saying that it could not control MTPD’s
decisions and therefore could not be held liable.

The ECJ on Wednesday rejected its argument.

“The Court confirms the fine of 82 million euros imposed
jointly and severally on Toshiba and Panasonic/MTPD for their
participation in the cartel on the market for tubes for
television sets,” judges said in their verdict.

($1 = 0.9356 euros)



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