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Denso, Yazaki Plead Guilty in Massive Bid-Rigging Case

Fines top $500 million.

by on Jan.31, 2012

Japan's Denso and Yazaki will pay almost $550 million in fines for bid-rigging, while key executives will serve jail time.

Two of Japan’s largest suppliers of automotive electrical components–Yazaki Corp and DENSO Corp. –have agreed to plead guilty and to pay more than a half billion dollars in criminal fines for their involvement in bid-rigging conspiracies in the sale of parts to automobile manufacturers in the United States, the U.S. Department of Justice (DOJ) announced.

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Four executives from Yazaki Corp. North American operations in Detroit, all Japanese nationals, have also agreed to plead guilty and to serve prison time in the United States. The conspiracy targeted companies such as Honda, Toyota and Subaru which have manufacturing operations in the US, according to document filed by the DOJ.

By itself, Yazaki has agreed to pay a $470 million criminal fine–the second largest criminal fine obtained for a Sherman Act antitrust violation–and DENSO has agreed to pay a $78 million criminal fine.

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