Amazon shares news: Amazon Japan raided by regulators
Amazon shares edged higher Wednesday, as news emerges the global tech giant’s Japanese offices have been raided by the Japanese anti-trust regulators. Japan's Fair Trade Commission (JTFC), is reported to be investigating the retailer over possible anti-trust violations.
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It is reported that sellers who list their goods on the site have been told they must bear at least part of the cost of discounts offered on there.
Amazon shares closed 0.18% in the green at $1,591.00, in the US Wednesday. The stock is also a little higher in after-hours trading activity, Thursday.
Amazon co-operating
A variety of news reports said the Amazon offices were raided by the JTFC. Amazon has confirmed this to news agencies and said they are co-operating fully with the investigation.
According to a report by the Asian Nikkei Review, Amazon is being investigated on the grounds it has begun “requesting its vendors contribute cooperation payments” along with stating sellers on its site must help absorb some of the costs of discounting.
The news follows a previous investigation into Amazon Japan by the JTFC, that the retailer requested its vendors to offer products on its site at the same price or lower than other competitors. That case was closed in June 2017 after Amazon Japan agreed to remove that clause.
Amazon, Google row continues
The division between tech giants Amazon and Google, meanwhile, continues as it has emerged Amazon won’t sell some smart home devices from Nest – owned by Google – on its site.
Amazon and Google are both working hard to develop smart home tech and where their devices are in direct competition, Amazon tends to opt not to sell the Google developed alternative. Google Home, for instance, isn’t available for purchase on Amazon’s retail sites.
The ongoing dispute between the two firms has also seen YouTube removed from Amazon’s Echo Show device. In addition, Google is said to be working with other tech firms to develop a product to rival the Amazon device, on which YouTube will no doubt feature heavily.
