3 Nishikawa Rubber execs indicted by US for price-fixing
District of Columbia (Reuters) -- Two former executives of Nishikawa Rubber Co. and one present executive from the firm were indicted on Thursday for allegedly conspiring to fix the costs of weatherstripping and rubber seals for automobiles made in America.
The U.S. Justice Department recognized the three executives as Keiji Kyomoto, Mikio Katsumaru and Yuji Kuroda, all of Japan. They were connected with Nishikawa Rubber Co., according to profiles of business executives.
The Justice Department, and antitrust enforcers all over the world, have had a long-running probe into price fixing of car parts. Thirty seven firms have pleaded guilty within the the probe, and 5 8 executives are charged.
The conspiracy changing automotive sealing goods, which ran from September 2003 to Oct 2011, changed goods sold to Honda Motor Co. and Toyota Motor Corp. and their U.S. affiliates, the Justice division stated in a statement.
Along with the price fixing claims, Katsumaru and Kuroda encouraged business employees to ruin evidence so that you can conceal the probe, in accordance with the section.
"These executives conspired for years using their rivals to fix the values of body sealing goods marketed to Honda and Toyota and installed in U.S. automobiles," Brent Snyder, of the Justice Department's anti trust Division, said in a statement. "The anti trust Division will continue to vigorously prosecute executives who orchestrate their firms' attempts to to interrupt the law."
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