UPDATE 1-Japan's Aisan to plead guilty to price-fixing in U.S.

Mon Feb 3, 2014 12:19pm EST

WASHINGTON Feb 3 (Reuters) - Japan-based Aisan Industry Co Ltd has agreed to plead guilty in the United States to conspiring to fix the prices of automobile parts and pay a criminal fine of $6.9 million, the U.S. Justice Department said on Monday.

Aisan conspired to fix the prices of electronic throttle bodies, which help control the amount of air flowing into the engine, and sold them to Nissan Motor Co Ltd in the United States and elsewhere, the department said in a statement.

Aisan is one of 25 companies which law enforcement authorities in the United States, Europe or Asia have charged with price fixing. More than 30 types of car parts are involved, including seat belts, radiators, windshield wipers, air-conditioning systems, head and tail light components, power window motors and power steering components.

Among the auto parts companies that the Antitrust Division has settled with are Diamond Electric, Koito Manufacturing Co Ltd, Autoliv Inc, Tokai Rika Co Ltd, TRW Deutschland Holding GmbH, Nippon Seiki Co Ltd, Furukawa Electric Co Ltd and Fujikura Ltd.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video