US: Two more former Japanese parts execs charged

The Justice Department’s sweeping worldwide investigation into price fixing in auto parts shows no signs of stopping, with two more Japanese auto parts executives indicted Thursday in Detroit.

The indictment charges Norio Teranishi, formerly of NGK Spark Plug Co. Ltd., and Hisashi Nakanishi of NGK Spark Plug, with conspiring to fix the prices of spark plugs, oxygen sensors, and air-fuel ratio sensors. Parts were sold to the former DaimlerChrysler AG, Ford Motor Co., Subaru, General Motors Co., Honda Motor Co., Nissan Motor Co. and Toyota Motor Corp.

Teranishi was the former general manager of sales and vice-head of the Automotive Component Group at NGK Spark Plug, while Nakanishi was managing director of NGK Spark Plug Europe.

The indictment alleges that from January 2000 and continuing until at least July 2011, Teranishi and Nakanishi conspired to rig bids and fix prices of the parts.

To date, 55 individuals have been charged in the government’s ongoing investigation into market allocation, price fixing and bid rigging in the automotive parts industry.

Full content: Reuters

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