The Trade commission sent a cease-and-desist order to Sharp, claiming the firm had colluded with Hitachi to control the price of displays, which violates Japan’s Antimonopoly Act.
Sharp responded in a statement insisting it was not in ‘violation of Antimonopoly Act’ as "Sharp and Hitachi, only two manufacturers, could not have controlled the prices."
Sharp added: "There is no precedent in Japan that a cartel in violation of Antimonopoly Act was found for a specific product which was sold to one private company for use of a single product model."
However, the firm plans to ‘strengthen’ its compliance with law and business ethics as a result of the cease and desist orders.
The fine must be paid by March 19th.