Former Bridgestone Corp. executive Yusuke Shimasaki will plead guilty and serve 18 months in a U.S. prison for his role in an international price fixing conspiracy and the rigging of bids for automotive anti-vibration rubber parts sold in the United States. Last February the Department of Justice announced that Bridgestone had agreed to plead guilty and to pay a $425 million criminal fine for its role in the conspiracy. In April Yasuo Ryuto, Isao Yoshida, two former executives of Bridgestone Corp., and Yoshiyuki Tanaka, a current executive, were indicted their roles in a conspiracy to fix prices of automotive anti-vibration rubber parts.
The Japanese auto parts price fixing scandal continues to grow with more indictments and prison time likely coming. To date, 33 people have been charged in the government’s ongoing investigation of the auto parts industry. Additionally, 26 companies have pleaded guilty or agreed to plead guilty and have agreed to pay a total of more than $2.29 billion in fines.
According to the one-count felony charge filed in the U.S. District Court for the Northern District of Ohio in Toledo, Shimasaki, along with co-conspirators, engaged in a conspiracy to allocate sales of, to rig bids for, and to fix, raise and maintain the prices of automotive anti-vibration rubber parts sold to Toyota Motor, Nissan Motor, Subaru and their subsidiaries, affiliates and suppliers, in the United States and elsewhere.
According to the charge, Shimasaki participated in the anti-vibration rubber conspiracy from at least as early as January 2001 until at least December 2008. During that time, he was employed by Bridgestone as a sales manager and an executive vice president at Bridgestone in Findlay, Ohio. According to the plea bargain, in addition to serving time in prison, Shimasaki has also agreed to pay a $20,000 criminal fine and to cooperate in the department’s investigation. The plea agreement is subject to almost certain court approval.
