Three companies to plead guilty for fixing prices of capacitors
“The Antitrust Division has now charged five companies and one individual for their participation in this international price-fixing conspiracy,” said Deputy Assistant Attorney General Brent Snyder of the Justice Department’s Antitrust Division.
“The electrolytic capacitors conspiracy affected millions of American consumers who use electronic devices containing capacitors every day.”
Electrolytic capacitors store and regulate electrical current in a variety of electronic products, including computers, televisions, car engine and airbag systems, home appliances and office equipment.
The division filed one-count felony charges against each of the three companies in U.S. District Court in San Francisco today.
In addition to pleading guilty to the charges against them, each company has agreed to pay a criminal fine and cooperate with the division’s ongoing investigation. The plea agreements are subject to court approval.
Previously, NEC TOKIN Corp. and Hitachi Chemical Co. pleaded guilty to participating in the same worldwide conspiracy.
NEC TOKIN was sentenced to pay a fine of $13.8 million in January 2016, and Hitachi Chemical was sentenced to pay a fine of $3.8 million in June 2016.
On March 12, 2015, a grand jury indicted Takuro Isawa, a former Global Sales General Manager for one of the capacitor manufacturers, for his alleged participation in the conspiracy. ■
What to read next
More inside POST