Two Japanese executives who worked for Denso Corporation are facing over a year in a US federal prison following their roles in a price fixing scandal.
Yuji Suzuki and Hiroshi Watanabe have pleaded guilty to charges that they fixed prices and allocated bids for ECUs and heater control panels, according to a report carried by The Associated Press. The components were sold to Toyota Motor Corporation in the US and elsewhere.
Suzuki is set to serve 16 months in jail, while Watanabe has been sentenced to 15 months. Each must also pay US$20,000 in fines and cooperate with an ongoing investigation being carried out by the country's Justice Department.
Denso was sentenced to pay a US$78 million fine in March 2012, having pleaded guilty to the charges. The firm is one of nine companies involved in an ongoing investigation into price fixing in the car parts industry.
Author: Glenn Brooks