04:15 AM EST, 11/27/2024 (MT Newswires) -- (Updates to add Amazon Japan's comment in the third paragraph.)

Amazon.com's ( AMZN ) Japan unit is being investigated by Japan's Fair Trade Commission on suspicion of violating anti-monopoly laws, Reuters reported on Tuesday, citing a government source.

The Japanese agency conducted an on-site inspection of Amazon Japan, alleging that the company is pressuring sellers to lower their prices in exchange for better product placement on its platform, the report said.

Amazon Japan told MT Newswires that they are cooperating fully with the authorities.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)