Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Panasonic fined by Canada Competition Bureau for auto parts bid rigging, (Feb 20, 2014)

The Canada Competition Bureau announced today that Panasonic Corporation was fined (Can.) $4.7 million by the Ontario Superior Court of Justice, after the company pleaded guilty to two counts of bid rigging under the Competition Act. According to the announcement, Panasonic conspired with another Japanese motor vehicle components manufacturer to coordinate their respective responses and to agree on which party would win bids submitted in response to requests for quotations to supply Toyota Motor Manufacturing Canada Inc.  with certain types of switches and sensors used in motor vehicles, namely turn switches, wiper switches, steering wheel switches, and steering angle sensors.

In the United States, the Department of Justice announced in July 2013 that Panasonic had agreed to plead guilty for its role in a conspiracy to fix prices of switches, steering angle sensors, and automotive high intensity discharge (HID) ballasts installed in cars sold in the United States and elsewhere. Panasonic agreed to pay a $45.8 million criminal fine for its role in the automotive parts conspiracy in the U.S. matter.

Companies: Panasonic Corp.

News: Antitrust AntitrustDivisionNews