The three-year investigation by the US Department of Justice into price-fixing allegations by auto parts suppliers continues, with two more fish from the swamp of corruption the latest to be sentenced. Reuters reports that Denso executives Yuji Suzuki and Hiroshi Watanabe will do 16 months and 15 months in US jails, respectively, for their roles in setting prices for parts like heater control units and power window systems. They will also each pay $20,000 fines.
Yazaki North America
Two more Japanese auto industry suppliers, Yazaki and Denso, have been fined by the U.S. Department of Justice and four executives from Yazaki will go to jail, according to reports in the New York Times and Automotive News. Yazaki's $478 million fine and Denso's $78 million fine come on top of the $200 million penalty paid by another Japanese supplier, Furukawa Electric Company, last November as part of a probe into price fixing. Three Furukawa execs also were sentenced to prison.
Several news outlets are reporting that the FBI has raided the Detroit-area offices of Yazaki North America, Denso International and Tokai Rika. U.S. Justice Department spokeswoman Gina Talamona reportedly told The Detroit News that her office was investigating the suppliers for an alleged anti-competitive pricing cartel. The raid was carried out by the local FBI office in Detroit, and the Bureau is working with the European Commission and other foreign competition authorities.