TOKYO, July 22 -- Japan Fair Trade Commission issued the following press release:

The Japan Fair Trade Commission (hereinafter referred to as the "JFTC") has investigated Visa Worldwide Pte Limited (hereinafter referred to as "Visa Worldwide") in accordance with the provisions of the Antimonopoly Act (hereinafter referred to as the "Act"), and suspected that Visa Worldwide's conduct described 3 below might violate the Article 19 of the Act (Paragraph 12 (Trading on Restrictive Terms) of Designation of Unfair Trade Practices).

Recognizing that competition would be promptly restored, through the Commitment Procedure, by measures to be swiftly taken by Visa Worldwide to eliminate the company's conduct described 3 below, the JFTC issued the Notice of Commitment Procedures to Visa Worldwide on July 14, 2025, pursuant to the Article 48-2 of the Act.

Visa Worldwide submitted the Commitment Plan to the JFTC for an approval of measures necessary to eliminate its conduct described 3 below, pursuant to the Article 48-3, Paragraph 1 of the Act. The JFTC today approved the Commitment Plan, pursuant to the Article 48-3, Paragraph 3 of the Act recognizing that the plan is sufficient to eliminate the conduct and expected to be reliably implemented (Note 1) (Note 2).

This Commitment Plan includes a five-year implementation period for the commitment measures and the entrustment of monitoring the overall implementation of these measures to a third party (Note 3).

It is noted that today's approval does not mean that Visa Worldwide's conduct violated the Act.

(Note 1) An approval of the Commitment Plan is an administrative disposition under the Act.

(Note 2) The JFTC is to render a decision to rescind the approval pursuant to the Article 48-5, Paragraph 1 of the Act and resume the investigation procedure conducted before the Notice of Commitment Procedures is issued, for instance, if the JFTC recognizes that the Commitment Plan is not being conducted according to the approved Commitment Plan.

(Note 3) At the regular press conference of the Secretary General held on July 3, 2024, measures to ensure more effective and practical implementation of the Commitment Procedures were announced.

The rest of the document can be viewed at https://www.jftc.go.jp/en/pressreleases/yearly-2025/July/250722.html

Disclaimer: Curated by HT Syndication.