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Japanese Supplier Pleads Guilty to Price Fixing in U.S.
Another Japanese supplier has agreed to plead guilty and pay a fine for colluding with others to fix prices in the U.S., the Dept. of Justice reports.
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Another Japanese supplier has agreed to plead guilty and pay a fine for colluding with others to fix prices in the U.S., the Dept. of Justice reports.
Usui Kokusai Sangyo Kaisha Ltd. admits it conspired to rig bids for brake and fuel line tubing it supplied to carmakers between at least 2003 and 2011. The Shimizu-based company also will pay a $7 million fine.
The Justice Dept. previously indicted four Usui executives and two of the company’s U.S. affiliates for their participation in the conspiracy.
Usui’s guilty plea brings to 47 the number of companies in the U.S. that have admitted to one or more counts of price fixing. Those companies have paid more than $2.9 billion in combined criminal fines.
The continuing Justice Dept. probe is part of a worldwide criminal investigation by multiple agencies into bid-rigging and conspiracy to control pricing of dozens of vehicle components.
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