Sixth Japanese Supplier Pleads Guilty to Price Fixing

Nippon Seiki Co. Ltd. will plead guilty to one count of criminal conspiracy in the U.S. to fix prices of instrument panel clusters from 2008 to 2010, according to the Dept. of Justice.

Nippon Seiki agreed to cooperate in an ongoing investigation by authorities in Japan, Europe and the U.S. into bid rigging and price fixing among auto suppliers.

The company also will pay a $1 million fine. It is the smallest penalty the U.S. has levied against six Japanese companies (including Nippon Seiki) and one each from Germany and Sweden that have pleaded guilty to price-fixing. Combined fines to date exceed $790 million.

Nine Japanese executives also have pleaded guilty of participating in the schemes, paid fines and been sentenced to U.S. prison terms of one to two years.