Japanese auto-parts maker to pay record $30 million fine for bid-rigging
Yazaki Corporation was fined $30 million after pleading guilty to rigging bids for wire harnesses supplied to Honda and Toyota for the 2005.5 Honda Ridgeline, 2006 Honda Civic and 2006 Toyota Corolla/Matrix models. The volume of commerce affected in Canada was about US $260 million.
This is the largest fine ever to be ordered for bid-rigging in Canada. It eclipses the previous record, which was set only one week before, when Furukawa Electric was fined $5 million for rigging bids for electrical boxes, such as fuse boxes, relay boxes and junction blocks, sold to Honda between 2000 and 2010, for the 2001 and 2006 Honda Civic models.
Yazaki participated in the Bureau’s Leniency Program.
The Bureau’s investigation continues.
Bid-rigging is a serious criminal offence under the Competition Act, punishable by up to 14 years imprisonment, plus a fine in the discretion of the court.
Read the Bureau’s press release.
