Showa fined $13m for auto parts conspiracy
April 4th, 2016
Japanese auto parts maker Showa Corporation has been fined $13 million after admitting to participating in an international conspiracy to rig bids for electronic power steering gears. Showa’s fine is the second largest ever imposed for bid rigging in Canada. It brings the total haul from the Competition Bureau’s auto parts investigation to over $70 million.
The auto parts investigation is the largest ever international antitrust investigation. Antitrust authorities in a number of countries, including the United States, the European Union, the United Kingdom, China, Japan, and Korea. In Canada, the Bureau launched its the investigation in 2009 after receiving more than 160 applications for immunity and leniency.
Showa received leniency in exchange for assisting the Bureau.
Previous developments in the Bureau’s auto parts investigation include:
- December 9, 2015: Toyo Tires & Rubber Co., Ltd. was fined $1.7 million for rigging bids for anti-vibration components
- December 11, 2014: Yamashita Rubber Co., Ltd. was fined $4.5 million for rigging bids for anti-vibration components
- August 20, 2014: DENSO Corporation was fined $2.45 million for rigging bids for body electronic control units.
- February 20, 2014: Panasonic Corporation was fined $4.7 million for rigging bids for certain types of switches and sensors.
- January 30, 2014: NSK Ltd. was fined $4.5 million for rigging bids for automotive wheel hub unit bearings.
- July 12, 2013: JTEKT Corporation was fined $5 million for rigging bids for automotive wheel hub unit bearings.
- April 18, 2013: Yazaki Corporation was fined $30 million for rigging bids for wire harnesses.
- April 4, 2013: Furukawa Electric Co., Ltd. was fined $5 million for rigging bids for electrical boxes.