Japanese Companies to Pay Fine in Price-Fixing Case

Two Japanese corporations have pleaded guilty to price-fixing and bid-rigging, and have agreed to pay fines of USD $548 million, according to the U.S. Department of Justice. This was one of the largest antitrust investigations ever, in terms of scope, as the two companies had been participating in the scheme for at least a decade.  Automakers and consumers both overpaid for electronic parts as a result.  During the investigation, law enforcement agencies from the United States, Japan, and Europe all became involved.  The companies were ultimately sanctioned by the U.S. government, the Japanese Fair Trade Commission, and the European Commission.

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