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Japan: Wide-spread auto collusion is ‘largest price-fixing investigation ever,’ says official

By  |  February 17, 2013
Japan: Wide-spread auto collusion is ‘largest price-fixing investigation ever,’ says official

An antitrust probe concerning manufacturers of car parts in Japan, an under-the-radar story that has not attracted much attention, is now being called the “largest price-fixing investigation ever” by a US official, noting the number of companies involved. The auto industry called keiretsu has close ties with companies like Toyota and Honda, but as confessions surface and probes pry deeper into the industry, officials are discovering an industry wrought with price-fixing, bid-rigging and collusion leading to millions of dollars in fines and various prison sentences. While the probes have focused mostly on Japan, German and Swedish companies are also under watch, accused of jacking up car prices and under a harsh crackdown by the US Justice Department.

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    Full Content: Wall Street Journal

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