Two More Japan Executives Indicted for Auto Parts Price Fixing
Two more Japanese executives were indicted for their alleged roles in a conspiracy to fix the price of auto parts, said the Justice Department. A Northern Ohio U.S. District Court grand jury indicted Masao Hayashi and Kenya Nonoyama Nov. 20…
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for colluding to fix the price of anti-vibration rubber parts sold to Toyota and used to manufacture cars in the U.S., in violation of the Sherman Act. The executives each face a maximum of 10 years in prison and a fine of $1 million if found guilty. The indictment is part of a wide-ranging Justice Department investigation on price fixing of automotive parts, DOJ said. To date, 21 companies and 26 executives have been charged, including Hayashi and Nonoyama. The charges have resulted in $1.6 million in fines and 17 of the charged executives spending time in prison, said DOJ.