U.S. Indicts Bridgestone Execs for Price Fixing

Three current or former executives at Bridgestone Corp. have been indicted by a federal grand jury in Cleveland on charges of conspiring to rig bids on rubber components for the auto industry.

The indictment says the trio fixed prices between 2004 and 2008 on anti-vibration rubbers parts supplied to Fuji Heavy Industries (Subaru), Nissan, Suzuki and Toyota in the U.S. and elsewhere.

The charges are against Yoshiyuki Tanaka, an executive with Bridgestone APM Co., and two former general managers, Yasuo Ryuto and Isao Yoshida. Bridgestone agreed in February to plead guilty and pay a $425 million criminal fine for its role in the conspiracy.

The new indictments bring to 32 the number of people charged by the U.S. Dept. of Justice in a continuing global investigation into auto parts price fixing. So far 26 companies have pled guilty or agreed to do so and are paying a combined $2.3 billion in fines.