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BusinessPolitics142 words1 min read

Japan Fines 42 Firms for Bid-Rigging on Apartment Repairs

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Japan's government found a big problem with apartment repairs.

42 companies worked together to fix prices. This is called bid-rigging. It is against the law.

The companies repaired big apartment buildings in the Kanto area. Kanto is near Tokyo.

A group called the Fair Trade Commission checked the companies. They found the companies broke the law.

The government told the companies to pay fines. The total money is about 1.6 billion yen.

People who live in the apartments pay for repairs. This money is called repair fees.

The residents may have paid too much money. This is because of the bid-rigging.

One company said they did not make prices too high.

Now people ask: how can residents protect their money?

The government also told people the names of the apartment buildings.

People ask why the government shared these names.

Vocabulary7 words

fix
to make something stay the same on purpose
bid-rigging
when companies secretly agree on prices together, which is not fair
Fair Trade Commission
a government group that checks if companies are fair
fines
money you must pay as punishment
repair fees
money paid to fix a building
resident
a person who lives in a place
protect
to keep something safe

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Quiz

1. How many companies were involved in bid-rigging?
2. What did the companies do wrong?
3. True or False: The fines total about 1.6 billion yen.

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Fill-in-the-blank listening

Play the audio again and fill in the missing words as you listen.

Japan's government found a big problem with apartment _____.

42 companies worked together to _____ prices.

This is called _____. It is against the law.

The companies repaired big apartment buildings in the _____ area.

A group called the Fair Trade Commission _____ the companies.

The government told the companies to pay _____.

The total money is about _____ billion yen.

People who live in the apartments pay for _____.

The residents may have paid too much _____.

Now people ask: how can residents _____ their money?

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