<Explanation>
What is the problem with Mr. X’s email?
You probably know that engaging in bid-rigging or forming a cartel is a breach of law. In Japan, such actions are
prohibited under the Antimonopoly Act. (We shall hereinafter refer to the Antimonopoly Act in Japan and other
similar laws and regulations around the world as “Competition Law”.) For example, agreement on a price or fee or
production volume etc. among competitors is prohibited, since it is considered to be a cartel. Recently, even only
exchanging such key information among competitors (or even if such information is disclosed unilaterally by
competitors), is also regarded as a breach of law.