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Japanese auto parts makers found guilty of price fixing

Published by Steve Coleman on January 30, 2012

Ten years of fixing the prices on vehicle electrical parts has landed two Japanese auto suppliers more than a half billion dollars in criminal fines.

The US Justice Department levied a US$470 million fine against Yazaki Corp. and a US$78 million fine against DENSO Corp on Jan. 30.

As a part of the deal to settle the case, four Yazaki executives, all Japanese citizens, have agreed to serve up to two years in US prison.

A Associated Press story says Canadian auto parts maker Magna International is also part of an ongoing US investigation.

Read the full news story at the following link.

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