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    Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Another Japanese auto parts maker agrees to plead guilty to conspiring on steering assemblies quotes, (Apr 23, 2014)

    Organizations Mentioned:Honda Motor Co. Ltd. | Jtekt Corp. | Showa Corp.

    By Jeffrey May, J.D.

    Japanese auto parts manufacturer Showa Corporation has agreed to plead guilty and to pay a $19.9 million criminal fine for its role in a conspiracy to fix prices and rig bids for steering assemblies, the Department of Justice has announced. A one-cou ...

    By Jeffrey May, J.D.

    Japanese auto parts manufacturer Showa Corporation has agreed to plead guilty and to pay a $19.9 million criminal fine for its role in a conspiracy to fix prices and rig bids for steering assemblies, the Department of Justice has announced. A one-count felony charge was filed today in the federal district court in Cincinnati against the company (U.S. v. Showa Corp., Criminal No. 1:14-cr-00044-HJW).

    According to the charge, Showa conspired to rig bids for, and to fix the prices of, pinion-assist type electric powered steering assemblies sold to Honda Motor Co. Ltd. and its subsidiaries. These devices provide power to the steering gear pinion shaft from electric motors to assist the driver to more easily steer the automobile. Pinion-assist type electric powered steering assemblies include an electronic control unit and link the steering wheel to the tires but do not include the column, intermediate shaft, steering wheel or tires.

    Showa allegedly submitted quotations to Honda in accordance with agreements with its competitors. Showa’s involvement in the conspiracy lasted from approximately 2007 until September 2012, the government alleged.

    The charge against Showa is the latest in an ongoing federal investigation into price fixing, bid rigging, and other anticompetitive conduct in the automotive parts industry. This is the second case involving electric powered steering assemblies.

    Last September, Jtekt Corporation agreed to plead guilty in the federal district court in Cincinnati to charges that it conspired to rig bids and fix prices for electric powered steering assemblies it sold to Nissan. The company also agreed to plead guilty to a second count in the information for its role in a conspiracy involving automotive bearings sold to Toyota.

    Companies: Showa Corp.; Jtekt Corp.; Honda Motor Co. Ltd.

    News: Antitrust AntitrustDivisionNews

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