As reported by Reuters, Japan's Yazaki Corp., a supplier of automotive electrical components including wire harnesses for wiring and circuit boards, has agreed to plead guilty and pay a fine of $470 million for conspiring to fix the prices of parts sold to U.S. automakers in the United States, according to information released by the U.S. Justice Department. Additionally, four Yazaki executives will reportedly plead guilty and serve prison time ranging from 15 months to two years.
Related Story: Yazaki opens new automotive wiring harness plant in Romania
The Justice Department previously settled with Japan's Furukawa Electric Co., who also pled guilty and agreed to pay a $200 million fine for price-fixing in the same probe.
Source: Yazaki, Denso to plead guilty in U.S. price-fixing (reuters.com)
