Matsuo Electric, executive to plead guilty to price fixing in U.S. (updated)
08/02/2017 22:10
(Adds fine and sentence, background on other pleas)
WASHINGTON, Feb 8 (Reuters) - Matsuo Electric Co Ltd
6969.T and one executive have agreed to plead guilty to fixing
prices and rigging bids for electrolytic capacitors, which
regulate current in a broad range of electronics, the U.S.
Justice Department said on Wednesday.
Under the terms of the plea agreement, the company will pay
a criminal fine, which was not disclosed, and executive Satoshi
Okubo will serve a 366-day prison sentence, the department said.
The Justice Department alleged that Matsuo was involved in
the price-setting conspiracy from late 2001 to early 2014 while
Okubo was involved from mid-2002 to early 2014.
Matsuo could not immediately be contacted for comment.
The company is the fifth to plead guilty to price fixing of
electrolytic capacitors. Hitachi Chemical pleaded guilty to
price fixing in April 2016. urn:newsml:reuters.com:*:nL2N17U22R Rubycon Corp, Elna Co
Ltd 6972.T and Holy Stone Holdings Co Ltd said in August 2016
that they would also plead guilty to fixing the prices of the
devices. urn:newsml:reuters.com:*:nEMN3O35GG
(Reporting by Diane Bartz; Editing by Sandra Maler)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
Keywords: MATSUO ELECTRIC BID RIGGING/ANTITRUST