Bloomberg News

Jtekt Leads Japan Bearing Makers Lower on Europe Antitrust Probe

November 09, 2011

Nov. 9 (Bloomberg) -- Jtekt Corp. led Japanese makers of ball bearings lower after the European Commission began an antitrust investigation into the industry on concern that there may have been violations of competition rules.

Jtekt, which said its Dutch unit was investigated by the EU antitrust body, lost 8.5 percent to 744 yen. NSK Ltd., NTN Corp. and other companies in the sector declined. The European Commission didn’t name the companies.

NSK plunged 7.1 percent to 521 yen. NTN tumbled 5.3 percent to 305 yen.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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