Nichicon to plead guilty in U.S. to price-fixing, pay $42 mln fine (updated)

Nichicon

11/07/2017 22:24

(Adds no immediate comment from Nichicon, background) 
    By Diane Bartz 
    WASHINGTON, July 11 (Reuters) - Japan's Nichicon Corp 
 6996.T  will plead guilty to fixing the prices of electrolytic 
capacitors sold in the United States and elsewhere, and will pay 
a $42 million fine, the U.S. Justice Department said on Tuesday. 
    The price-fixing conspiracy ran from September 1997 to 2014, 
and Nichicon participated from about 2001 to 2011, the Justice 
Department said in its complaint, filed in federal court in San 
Francisco. Electrolytic capacitors are used in a range of 
electronic products, including computers, televisions and car 
engines, to store and regulate electric current 
    Nichicon is the seventh company to be charged with 
price-fixing in the industry while 10 people have been charged, 
according to Marvin Price, director of the Antitrust Division's 
criminal enforcement unit. 
    A spokesperson for Nichicon was not immediately available 
for comment. 
    Other companies that have pleaded guilty to fixing the 
prices of capacitors include Matsuo Electric  6969.T , Hitachi 
Chemical  4217.T  and Elna Co Ltd  6972.T .  urn:newsml:reuters.com:*:nL1N1FT21R 
 
 (Reporting by Diane Bartz; Editing by Leslie Adler) 
 ((Diane.Bartz@thomsonreuters.com; +1-202-898-8313)) 
 
Keywords: NICHICON PRICEFIXING/