A PYMNTS Company

US/Japan: Hitachi next to pay for auto parts price-fixing

By  |  November 2, 2014

The US Department of Justice just added a new company on its list of firms guilty of conspiring to manipulate auto parts prices.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to reports, Tokyo-based Hitachi will plead guilty to the collusion and pay a $1.25 million fine. The company was accused of manipulating prices of car parts installed in Toyota vehicles.

    The DOJ accused Hitachi and its co-conspirators of fixing product prices and agreeing to divide supplies up between each other.

    Authorities continue to expand their largest-ever price-fixing investigation, a case that has so far netted 44 individual guilty pleas, 30 company guilty pleas, and nearly $2.4 billion in fines.

    Full content: Courthouse News Service

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.