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Yazaki Executive Agrees to Plead Guilty to Price Fixing
A Tokyo-based executive has agreed to plead guilty for his role in a conspiracy to fix prices of instrument panel clusters installed in cars sold in the United States and elsewhere.
Toshio Sudo, a Japanese national, was charged with engaging in a conspiracy to rig bids for, and to fix, stabilize and maintain the prices of instrument panel clusters sold to customers in the United States and elsewhere.
According to the charge, Sudo’s involvement in the conspiracy lasted from at least as early as January 2003 until at least February 2009. The conspirators carried out the conspiracy by agreeing, during meetings and conversations, to allocate the supply of instrument panel clusters and sold the parts at noncompetitive prices to automakers in the United States and elsewhere.
Sudo has agreed to serve 14 months in a U.S. prison, to pay a $20,000 criminal fine and to cooperate with the department’s investigation. He is the 11th executive to be charged in the government’s ongoing investigation into price fixing and bid rigging in the auto parts industry.
Yazaki manufactures and sells a variety of automotive parts, including instrument panel clusters. Instrument panel clusters are the mounted array of instruments and gauges housed in front of the driver of an automobile.
Seven companies, including Furukawa Electric Co. Ltd, DENSO Corp., Yazaki Corp., G.S. Electech Inc., Fujikura Ltd. and Autoliv Inc., have pleaded guilty and were sentenced to pay a total of more than $785 million in criminal fines. Additionally, seven individuals have been sentenced to pay criminal fines and to serve jail sentences ranging from a year and a day to two years each.
Key Facts
- State: Federal
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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