Business / Corporate Jul 26, 2016

TDK, NHK Spring searched over alleged price cartel

The Fair Trade Commission searched the offices of TDK Corp. and NHK Spring Co. on Tuesday on suspicion they formed a price cartel for electronics parts for hard disk drives, sources said. The two manufacturers of electronics components have allegedly set retail prices for suspensions, ...

Business Oct 22, 2015

EU slaps DVD drive-makers with €116 fine

Brussels A Hitachi Ltd.-LG Corp. joint venture and Sony Corp. were among a group of companies fined a combined total of €116 million ($131.6 million) by European Union regulators for fixing the prices of CD and DVD drives. Hitachi-LG Data Storage Inc. will have to pay ...

Business Dec 2, 2014

Japanese execs to serve prison terms for U.S. car parts price-fixing

Two Japanese automotive industry executives have agreed to serve prison terms and pay tens of thousands of dollars in fines over a price-fixing conspiracy involving car parts sold in the United States, the U.S. Department of Justice said. Kazumi Umahashi, a former executive with auto ...

National Feb 21, 2014

Ex-Denso exec to be jailed in U.S. over obstructing cartel probe

A former executive of Japanese auto parts maker Denso Corp. will be jailed in the United States after pleading guilty to obstructing a 2010 investigation of a price-fixing allegation, the U.S. Justice Department said Thursday. The move was part of the department's probe of price ...

Japanese units shell out for rigging U.S. auto parts prices

Business Sep 27, 2013

Japanese units shell out for rigging U.S. auto parts prices

A consortium of Japanese companies used code names and secret meetings to rig bids for dozens of types of auto parts imported to the United States in a decade-long conspiracy that may have cost U.S. consumers hundreds of millions of dollars, U.S. officials announced. Unveiling ...

Business Jul 11, 2013

Yazaki, Furukawa hit over EU cartel

Yazaki Corp., the world's biggest maker of automotive wire harnesses, Leoni AG, and Furukawa Electric Co. were fined a total of €141 million ($180 million) in a European Union probe of price-fixing cartels. Yazaki received the biggest fine of €125.3 million and its S-Y Systems ...