Executive to admit to auto parts price-fixing plot

AP News
Posted: Apr 26, 2012 1:28 PM
Executive to admit to auto parts price-fixing plot

The Justice Department says an executive of Japanese-headquartered DENSO Corp. has agreed to plead guilty and to serve 14 months in prison in a probe of bid rigging, price fixing and other anticompetitive conduct in the auto parts industry.

Makoto Hattori admitted to conspiring to fix prices of heater control panels on U.S. cars for at least three years beginning in 2005. Hatton was a manager in the Toyota Sales Division at DENSO. A federal judge in Detroit will decide whether to approve the deal between the government and Hattori.

Hattori is one of nine people and five companies charged in the investigation. Furukawa Electric Co. Ltd, DENSO Corp. and Yazaki Corp. have pleaded guilty and been sentenced to pay $748 million in criminal fines.