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$60M Fine for Price Fixing at Nippon Chemi-Con
Nippon Chemi-Con, a leading electro-lytic capacitor manufacturer, has been ordered to pay a $60 million criminal fine for price fixing in the United States and elsewhere. The fine is the largest imposed in the Justice Department’s investigation into collusion in the capacitors industry.
The company pleaded guilty to conspiring with others to suppress and eliminate competition for electrolytic capacitors from at least as early as November 2001 to January 2014. Nippon Chemi-Con was charged by indictment filed in October 2017 in the U.S. District Court for the Northern District of California.
The indictment charged Nippon Chemi-Con with carrying out the conspiracy by agreeing with co-conspirators to fix prices of electrolytic capacitors during meetings and other communications. Capacitors were then sold in accordance with these agreements.
Assistant Attorney General Makan Delrahim said, “Today’s sentence affirms the Antitrust Division’s commitment to holding companies, whether foreign or domestic, accountable for conspiring to cheat American consumers.”
Nippon Chemi-Con was also sentenced to a five-year term of probation during which the company must implement an effective compliance program and submit annual written reports on its compliance efforts.
In total, eight companies and ten individuals have been charged for their participation in this conspiracy. All eight companies have pleaded guilty and have been sentenced to criminal fines collectively totaling over $150 million.
Electrolytic capacitors store and regulate electrical current in a variety of electronic products, including computers, televisions, car engine and airbag systems, home appliances, and office equipment.
Anyone with information related to the focus of this investigation should contact the Antitrust Division’s Citizen Complaint Center at 1-888-647-3258, visit https://www.justice.gov/atr/report-violations, or call the FBI tip line at 415-553-7400.
Key Facts
- State: Federal
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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