U.S. Indicts Another Japanese Executive for Price Fixing

A federal grand jury in Detroit has indicted an executive with Panasonic Corp. for fixing prices on auto components.

The charges against Shinichi Kotani say he met with others in the U.S. and Japan between 2004 and early 2010 to rig bids for switches and sensors sold to Toyota Motor Corp.

Kotani was Panasonic's Georgia-based U.S. vice president for automotive systems in 2008-2009. He faces a possible $1 million fine and 10 years in prison. Panasonic pleaded guilty in July to abetting the conspiracy and agreed to pay a fine of nearly $46 million.

The indictment follows three others in the U.S. this month involving similar charges. Two weeks ago a federal grand jury in Kentucky charged an executive with G.S. Electech Inc. with conspiring to fix prices for antilock brake wiring assemblies. Last week two executives with Fujikura Ltd. were indicted in Detroit for fixing prices on wiring harnesses sold to Subaru maker Fuji Heavy Industries Ltd.

The indictments are the latest in a two-year investigation by authorities worldwide into long-running price fixing activities among auto suppliers in America, Japan and Europe. The U.S. Dept. of Justice has fined 13 suppliers a combined $885 million to date. At least 15 executives have been imprisoned.