Nippon Chemi-Con to pay $60 mln fine for price fixing -U.S. Justice Dept (updated)
03/10/2018 23:42
(Adds details, no response from company to request for comment)
WASHINGTON, Oct 3 (Reuters) - Nippon Chemi-Con Corp 6997.T
was sentenced to pay a $60 million criminal fine for its role in
a conspiracy to fix prices for electrolytic capacitors, the U.S.
Justice Department said on Wednesday.
Nippon Chemi-Con was also sentenced to a five-year term of
probation, the department said in a statement. Nippon Chemi-Con
pleaded guilty in May to conspiring with others to suppress and
eliminate competition for electrolytic capacitors.
Nippon Chemi-Con did not immediately respond to a request
for comment.
The statement said eight companies and 10 persons have been
charged in the conspiracy. "All eight companies have pleaded
guilty and have been sentenced to criminal fines collectively
totaling over $150 million," it said.
Two of the individuals charged have pleaded guilty and eight
remain under indictment, including four Nippon Chemi-Con
executives, the statement said.
Electrolytic capacitors store and regulate electrical
current in electronic products such as computers, televisions,
car engine and airbag systems, home appliances and office
equipment, the statement said.
(Reporting by Eric Beech and Mohammad Zargham;
Editing by Sandra Maler)
((eric.beech@thomsonreuters.com; 202-898-8322; Reuters
Messaging: eric.beech.reuters.com@reuters.net))