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Another Japanese Supplier Pleads Guilty to U.S. Price Fixing
Maruyasu Industries Co., a Japanese supplier of steel fuel and brake lines and engine components, has pleaded guilty to U.S. charges of conspiring to rig bids and fix prices on its products.
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Maruyasu Industries Co., a Japanese supplier of steel fuel and brake lines and engine components, has pleaded guilty to U.S. charges of conspiring to rig bids and fix prices on its products.
The Dept. of Justice says the company has been sentenced to pay a $12 million fine for violating the Sherman Act by conspiring to fix prices on products supplied to vehicles made in Japan and sold in the U.S.
The Justice Dept. also indicted Maruyasu’s U.S. unit, Curtis-Maruyasu Inc., and four sales managers. But it dismissed those charge in return for the company’s cooperation in pursing other companies that participated in the conspiracy.
The indictments are part of a continuing investigation in the U.S., Europe and Japan into price fixing throughout the automotive supplier industry. Since the probes began eight years ago, the Justice Dept. has charged 50 companies and 66 executives. It also has collected $4.2 billion in civil and criminal fines.
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