For the price collusion Japanese automotive supplier Denso fined hundreds of million dollars. Director of the year in prison

Executive Director of the Japanese company Denso, which is one of the largest suppliers of automotive technology, systems and components, has received a year in prison for participating in price fixing.

Denso - one of three companies that the U.S. authorities charged with preventing competition. As a result of a two-year FBI investigation uncovered evidence of deliberate overpricing of automotive wiring, fuel sensors, onboard computers. A complex scheme of fixed prices and control the distribution of supplies was established Denso and its partners - Furukawa Electric, and Yazaki Corp to work with Toyota Motor Corp, Honda Motor Co and Subaru. It allowed participants to conspiracy to sell automakers components at inflated prices.

All three companies have pleaded guilty to the charges, and together were ordered to pay fines of $ 748 million. Personal liability incurred boss Denso Norihiro Imai, who shall serve one year and one day in jail and pay $ 20,000 for conspiracy to fix prices on the components of the refrigeration and air conditioning.

I must say, Denso, which was a major participant in conspiracy, got off relatively easy: from November 2011 till January 2012, four senior leaders of the three bosses, and Yazaki Furukawa received from one year to 18 months.

31 March 2012

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