Japan Fines Mitsubishi, Others $41M Over Auto Parts Cartel

Law360, New York (November 26, 2012, 5:17 PM EST) -- Japan's antitrust watchdog on Thursday handed down $41.3 million in fines against Mitsubishi Electric Corp. and other automobile parts companies for allegedly conspiring to drive up prices for components sold to Honda Motor Co. Ltd. and others.

The Japan Fair Trade Commission said the fines — $17.2 million against Mitsubishi, $13.5 million against Mitsuba Corp., $8.2 million against T.Rad Co. Ltd. and $2.4 million against Calsonic Kansei Corp. — followed a determination that the companies rigged the bidding process for supply contracts with automakers by pre-ordaining...
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