Japan auto parts firm Usui settles U.S. price-fixing allegations
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Japanese auto parts maker Usui Kokusai Sangyo Kaisha Ltd will plead guilty and pay a $7.2 million fine for fixing the prices of steel tubes sold to car makers, the U.S. Justice Department said on Tuesday.
Usui worked with other manufacturers to set prices and allocate customers for their steel tubes, which are used in fuel distribution, braking and other automotive systems, the Justice Department said.
The department said a total of 47 companies and 65 people have pleaded guilty or been charged with price fixing of auto parts during its long-running probe of the industry.
Attempts to reach Usui Kokusai Sangyo Kaisha were unsuccessful.
Questions & Answers
Q.What is Usui Kokusai Sangyo Kaisha being accused of by the U.S. Justice Department?
What is Usui Kokusai Sangyo Kaisha being accused of by the U.S. Justice Department?
Usui is accused of working with other manufacturers to set prices and allocate customers for steel tubes. These tubes are essential components used in automotive systems like fuel distribution and braking.
Q.How much fine will Usui pay in connection with these price-fixing allegations?
How much fine will Usui pay in connection with these price-fixing allegations?
Usui Kokusai Sangyo Kaisha Ltd will plead guilty and pay a fine of $7.2 million. This settlement is for fixing the prices of steel tubes sold to various car manufacturers.
Q.What has been the overall scope of the U.S. Justice Department's investigation into auto parts price-fixing?
What has been the overall scope of the U.S. Justice Department's investigation into auto parts price-fixing?
The Justice Department's long-running probe has seen 47 companies and 65 individuals plead guilty or face charges for price-fixing. Usui's case is part of this broader industry investigation.
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