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Three More Suppliers to Plead Guilty in U.S. of Price Fixing
Japan’s Elna Co. and Rubycon Corp. and Samoa’s Holy Stone Holdings Ltd. have agreed to plead guilty of conspiring to fix prices on electronic capacitors sold in the U.S. and elsewhere.
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Japan’s Elna Co. and Rubycon Corp. and Samoa’s Holy Stone Holdings Ltd. have agreed to plead guilty of conspiring to fix prices on electronic capacitors sold in the U.S. and elsewhere.
The three suppliers secretly rigged bids on the devices between at least 1997 and 2014, according to the U.S. Dept. of Justice. Capacitors, which are used to store and regulate electricity, are a ubiquitous part of electrical circuits and electronic devices.
The three companies also agreed to pay undisclosed criminal fines and cooperate with the Justice Dept.’s continuing investigation.
The department notes that NEC Tokin Corp. and Hitachi Chemical Co. previously pleaded guilty of participating in the same conspiracy. They were fined nearly $14 million and $4 million, respectively, earlier this year.
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