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U.S. Indicts 3 Bridgestone Execs For Price-Fixing

Wed, 04/16/2014 - 8:12am

WASHINGTON (Kyodo) -- A U.S. federal grand jury has indicted one current and two former Japanese executives of Bridgestone Corp. for their involvement in automobile parts price-fixing in the United States, the Department of Justice announced Tuesday.

The three were charged with "conspiracy to suppress and eliminate competition in the automotive parts industry" by colluding to control prices of anti-vibration auto parts sold to Japan's major automakers in the United States.

In February, the major tire maker pleaded guilty to participating in the scheme and agreed to pay a $425 million fine.

The indictment followed an earlier crackdown by the department on the Tokyo-based company over a separate price-fixing case in 2011.

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