Japanese executives face prison for price fixing

Japanese executives face time in US prison for fixing prices on auto parts

Associated Press

DETROIT (AP) -- Two executives at Japanese auto supplier Denso Corp. are facing more than a year in U.S. federal prison for fixing prices on auto parts.

Yuji Suzuki and Hiroshi Watanabe have pleaded guilty to charges that they fixed prices and allocated bids for electronic control units and heater control panels that were sold to Toyota Motor Corp. in the U.S. and elsewhere.

Suzuki will serve 16 months in a U.S. prison, while Watanabe will serve 15 months. Both men will pay $20,000 fines and cooperate with the Justice Department's ongoing investigation.

Denso pleaded guilty to the charges and was sentenced to pay a $78 million fine in March 2012.

Denso is one of nine companies and 14 executives involved in the ongoing investigation into price fixing in the auto industry.

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