Yazaki has already imposed a $US470 million fine – the second-biggest sentence for violating the Sherman Act – and the four leaders will plead guilty and could serve sentences ranging from 15 months to two years in prison under their agreement with the courts. WASHINGTON – Two Japanese suppliers of electric automotive components – Yazaki Corporation and DENSO Corporation – have agreed to plead guilty and pay a $548 million fine for participating in several price-fixing and bid manipulations in the sale of parts to automakers in the United States, according to the Justice Department. Four leaders, all Japanese nationals, also agreed to plead guilty and serve prison sentences in the United States. On January 30, 2012, the Yazaki Corporation entered into an appeal agreement with the U.S. Department of Justice to have the company acknowledge the allegations, plead guilty and pay a $470 million fine in criminal proceedings involving cartel activities with certain competitors for cable and related products. Southfield, me. — LaSO Corporation closed on January 30, 2012 (US Eastern Standard Time) entered into an agreement with the U.S. Department of Justice (DoJ) and agreed to pay a fine of $78 million (approximately 6.1 billion yen) on the basis of allegations that it breached the law of cartels and abuse of a dominant position regarding the sale to a customer of certain automotive components (including certain electronic bodywork and heating control panels). In February 2010, the Japan Fair Trade Commission searched the offices of Furukawa Electric Co. Ltd. as the launch of a global probe. Furukawa pleaded guilty and agreed last September to pay $200 million in fines.
Japan-based Kariya, denso Corp., headquartered in Southfield, headquartered in Denso International America Inc., will also plead guilty and pay an additional $78 million in fines. Neil De Koker, CEO of the Original Equipment Suppliers Association, said today`s arguments have its members on the rise. Bottom and Pozen would not rule on whether, or when, lawsuits could be brought against individual Denso executives in the case, or whether an appeal agreement with the company excluded certain employees. According to oral arguments for judicial authorization, Ogawa and Takada each agreed to serve 15 months in prison in the United States, while Hanamura and Kawai agreed to serve two years in prison in the United States. Each of the four leaders agreed to pay a fine of $US 20,000. Two other Japanese companies and four industry executives have closed pleas in Detroit and will pay a $548 million fine for their role in the global price-pricing conspiracy between auto suppliers, as announced today by the U.S. Department of Justice.