Denizaki was fined by the U.S. Department of Justice for price monopoly

According to foreign media reports, the U.S. Department of Justice recently stated that the Japan Denso Group and Yazaki Engineering Co., Ltd. have imposed a price monopoly on U.S. automakers supplying parts and components and were fined 548 million U.S. dollars.

Yasaki was fined 470 million U.S. dollars and Denso was fined 78 million U.S. dollars. The U.S. Justice Department stated that Denso and Yazaki have agreed on sales prices and sales channels for certain electronic components. When they supply parts to U.S. car manufacturers, they monopolize prices and raise prices of parts.

Denso Group stated that it will pay the amount of fines as soon as possible and will adopt more stringent supervision measures in the future, strictly abide by the various provisions of the anti-monopoly law, and prevent similar situations from happening again.

The four senior executives of Yazaki’s participation in this price monopoly will be placed under the supervision of the U.S. Department of Justice, with service periods ranging from 15 months to 2 years.