Mexican Media Brands
Two Denso Execs to Plead Guilty to Price Fixing
Two Denso Corp. executives have agreed to plead guilty in a U.S. federal court to conspiring to fix prices of electronic control units and heater control panels sold to Toyota Motor Corp., according to the Dept. of Justice.
#electronics
Share
Two Denso Corp. executives have agreed to plead guilty in a U.S. federal court to conspiring to fix prices of electronic control units and heater control panels sold to Toyota Motor Corp., according to the Dept. of Justice.
The executives, who are both Japanese nationals, admit to manipulating parts prices in 2005-2008. Senior manager Yuji Suzuki and group leader Hiroshi Watanabe have each agreed to pay a $20,000 fine, serve 15 to 16 months in a U.S. prison and cooperate with the ongoing investigation.
In March 2012 Denso pleaded guilty in the U.S. to rigging bids and fixing prices of those components. The company agreed to pay a $78 million criminal fine. At that time, another Denso executive, Norihiro Imai, admitted guilt and agreed to pay a $20,000 fine and serve about one year in prison.
The guilty pleas are the result of an ongoing investigation of cartel activity among auto suppliers by government authorities in Europe, Japan and the U.S.
Thus far in the U.S., nine companies and 14 executives, including Suzuki and Watanabe, have pleaded guilty to price fixing. The companies have been fined a combined $809 million. The 12 executives already sentenced have been fined and sent to prison for one to two years.
RELATED CONTENT
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
Cadillac Super Cruise Explained
Although there is a lot of talk about “autonomy” and “hands-free driving,” when you get right down to it, there is more verbiage than there is reality.