U.S. Fines Japanese Auto-Parts Makers

WASHINGTON--Nine more Japan-based companies have agreed to plead guilty to fixing prices on auto parts and will pay more than $740 million in criminal fines, the Justice Department announced Thursday.

The department said the companies were involved in separate conspiracies to fix prices on more than 30 different parts sold to U.S. auto makers, including to Chrysler, Ford Motor Co. (F) and General Motors Co. (GM).

Among the companies agreeing to plead guilty are Hitachi Automotive Systems Ltd., which will pay a $195 million fine, and Mitsubishi Electric Corp. (6503.TO), which will pay a $190 million fine.

The Justice Department's long-running auto-parts investigation has focused on price-fixing in a wide array of products, from instrument panels to air bags and steering wheels. Its first charges came in 2011.

The probe has expanded over time as implicated auto-parts companies have come forward with evidence of price fixing in other previously undiscovered schemes.

With Thursday's agreements, 20 companies have agreed to pay more than $1.6 billion in criminal fines.

The Justice Department has said auto makers around the globe were victimized by the price-fixing conspiracies. U.S. officials have called the price-fixing probe its largest ever by the number of companies and executives involved.

Most parts markers that have pleaded guilty over the last two years are based in Japan.

Other companies to plead guilty under the deals announced Thursday are Jtekt Corp. (6473.TO), Mitsuba Corp. (7280.TO), Mitsubishi Heavy Industries Ltd. (7011.TO), NSK Ltd. (6471.TO), T.RAD Co. (7236.TO), Valeo Japan Co. and Yamashita Rubber Co.

Write to Brent Kendall at [e-mail]

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