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Denso Exec Sentenced to 1 Year for Price Fixing
A high-ranking executive at Japan-based Denso Corp. has agreed to plead guilty and serve one year and one day in prison for his role in a conspiracy to fix the prices of instrument panel clusters installed in U.S. cars.
Satoru Horisaki, a group leader in Denso’s Utsunomiya Branch Office, participated in the conspiracy from 2009 to February 2010 by agreeing upon bids and prices for automotive instrument panel clusters sold to Honda of America Manufacturing Co. Inc., in the United States and elsewhere.
Horisaki, a Japanese national, faces a maximum sentence of 10 years in prison and a $1 million criminal fine for price fixing in violation of the Sherman Act. He has also agreed to pay a $20,000 criminal fine and cooperate with the ongoing investigation.
This is the sixth Denso executive to be convicted in the Antitrust Division’s investigation into the automotive parts industry. To date, 36 individuals, including Horisaki, have been charged in the department’s ongoing investigation into price fixing and bid rigging in the auto parts industry.
Denso previously pleaded guilty and was sentenced to pay a $78 million criminal fine for its role in conspiracies to fix the prices of heater control panels and electronic control units.
The charges announced today arose from an ongoing federal antitrust investigation into price fixing, bid rigging, and other anticompetitive conduct in the automotive parts industry. Anyone with information concerning the focus of this investigation should contact the Antitrust Division’s Citizen Complaint Center at 1-888-647-3258 or visit www.justice.gov/atr/contact/newcase.html. The Detroit Field Office of the FBI can also be reached at 313-965-2323.
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RELATED: Japanese Auto Parts Maker Faces $1M Price Fixing Fine
Key Facts
- State: Federal
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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