Relating to pianos made in Japan, the KFTC concluded that the Japanese
pianos would not be working as effective competitive pressure, pointing out that
the market share of Japanese pianos was minimal in grand piano market, that the
grand and digital piano markets took up a very small share in overall piano
market even though the Japanese pianos accounted for a substantial share in these
markets, and that the merging parties far outpaced the second player in terms of
market share. In addition, the authorities expected the price cut by Kawai Musical
Instruments to be temporary and unlikely to be maintained.