Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Japanese firm sentenced in U.S. auto parts probe, (Feb 11, 2015)

By Jeffrey May, J.D.

Aisin Seiki Co. Ltd., a Japanese automotive parts manufacturer, was sentenced yesterday to pay a $35.8 million criminal fine for allocating customers for variable valve timing (VVT) devices sold to auto makers. The federal district court in Indianapolis entered judgment in the case on February 10 (U.S. v. Aisin Seiki Co. Ltd., Criminal No. 1:14-cr-0229 JMS-MJD).

In a one-count information filed in November 2014, the government alleged that Aisin engaged in the conspiracy to allocate customers, rig bids, and fix prices for VVT devices from approximately September 2000 until February 2010. VVT devices are installed in automobile engines and regulate the timing, extent, and duration of the opening of the engine’s intake and exhaust valves, thereby increasing fuel economy and engine performance. The charge against Aisin was the first, and is the only so far, to allege a conspiracy involving VVT devices.

Aisin was the 31st company charged in the Justice Department’s investigation into the automotive parts industry. The total number of companies charged to date is 33, according to the Justice Department.

Attorneys: Jeremy J. Calsyn (Cleary Gottlieb Steen & Hamilton LLP) for Aisin Seiki Co., Ltd. Andrew Kilohoku Rosa for U.S. Department of Justice.

Companies: Aisin Seiki Co. Ltd.

News: Antitrust AntitrustDivisionNews