RSS   Newsletter   Contact   Advertise with us
Post Online Media
Technology   Long-running conspiracy

Electrolytic capacitor manufacturer indicted for price fixing

Electrolytic capacitorA federal grand jury returned an indictment against an electrolytic capacitor manufacturer for participating in a conspiracy to fix prices for electrolytic capacitors sold to customers in the United States and elsewhere, the Department of Justice announced.

The indictment, filed in the U.S. District Court for the Northern District of California in San Francisco, charges that Nippon Chemi-Con Corporation, based in Japan, conspired to suppress and eliminate competition for electrolytic capacitors from as early as September 1997 until January 2014.

Article continues below

READ MORE Three companies to plead guilty for fixing prices of capacitors

Three current Nippon Chemi-Con executives, and one former Nippon Chemi-Con executive, were previously indicted for their participation in the conspiracy: Takuro Isawa, Takeshi Matsuzaka, Yasutoshi Ohno, and Kaname Takahashi.

“Today’s indictment affirms the Antitrust Division’s commitment to holding companies accountable for conspiring to cheat American consumers,” said Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division.

“The Division will prosecute companies—no matter where they are located—that violate U.S. antitrust laws.”

According to the one-count felony charge, Nippon Chemi-Con carried out the conspiracy by agreeing with co-conspirators to fix prices of electrolytic capacitors during meetings and other communications.

Capacitors were then sold in accordance with these agreements. As part of the conspiracy, Nippon Chemi-Con and its co-conspirators took steps to conceal the conspiracy, including the use of code names and providing misleading justifications for prices and bids submitted to customers in order to cover up their collusive conduct.

As a result of the government’s ongoing investigation, eight companies and ten individuals have been charged with participating in a conspiracy to fix prices of electrolytic capacitors.

Electrolytic capacitors store and regulate electrical current in a variety of electronic products, including computers, televisions, car engines and airbag systems, home appliances, and office equipment.




What to read next


 
 

We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy