Tokyo Based Fujikura Guilty of Auto Parts Price Fixing

AutoInformed.com

Fujikura is tangled in more than automotive wiring... Victims were not named.

Tokyo-based Fujikura Ltd. has agreed to plead guilty and to pay a $20 million criminal fine for its role in a conspiracy to fix prices of automotive wire harnesses and related products installed in U.S. cars, the Department of Justice announced today.

To date, including Fujikura, eight executives and five companies  have pled guilty in the department’s ongoing antitrust investigation into the auto parts industry. Three of the companies have pleaded guilty and have been sentenced to pay criminal fines totaling more than $748 million. Seven of the executives have pleaded guilty and have been sentenced to serve a total of more than 122 months in jail.

According to a one-count felony charge filed today in the U.S. District Court for the Eastern District of Michigan, Fujikura engaged in a conspiracy to rig bids for and to fix, stabilize and maintain the prices of automotive wire harnesses and related products sold to an automaker in the United States and elsewhere.

Fujikura’s involvement in the conspiracy lasted from at least as early as January 2006 until at least February 2010. According to the plea agreement, which is subject to court approval, Fujikura has agreed to pay a criminal fine and to cooperate with the department’s ongoing investigation.

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About Ken Zino

Ken Zino is an auto industry veteran with global experience in print and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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