Saturday May 26, 2012

JAPAN NEWS AND DISCUSSION

Two Japanese auto suppliers to pay price-fixing fine in U.S.

Crime Jan. 31, 2012 - 06:45AM JST ( 28 )

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28 Comments

4

buggerlugsJan. 31, 2012 - 09:05AM JST

Finally!! Now just have to do the same with polititians for their ummmm incentives recieved from industry.
3

my2senseJan. 31, 2012 - 09:23AM JST

awesome.
2

malfupeteJan. 31, 2012 - 10:36AM JST

I love it how the perpetrators of this white collar crime get relatively light sentences, even after swindling hundreds of millions of dollars from manufacturers and consumers. Bravo, justice system
3

GWJan. 31, 2012 - 10:39AM JST

Nice! Too bad these kind of investigations dont really happen in Japan often enough.

This is the 3rd or 4th group of J-companies that got nailed in NAmerica, bit of a pattern I'd say
-3

issa1Jan. 31, 2012 - 10:46AM JST

Innocently japan walks toward sign for ttp agreement. Trade war is just starting.
6

MaboDofuIsSpicyJan. 31, 2012 - 10:47AM JST

Tough luck, but should have gotten a life sentence. Wait until they see what American prisons are like. They will become someones B...CH
1

DogJan. 31, 2012 - 10:56AM JST

A few more fines like that and the USA will be able to pay off its national debt.

Ganbatte Nippon.
2

WurthingtonJan. 31, 2012 - 10:59AM JST

I was checking on Yazaki Corp. This is a non-listed Japanese company with over 120,000 employees worldwide and sales of over $14 billion in 2010. A, Shinji Yazaki is the CEO and most likely a major holder in the company. He is not listed in Japan's top 40 richest people but I wonder, since this is not a publicly traded company if he might be one of Japan's top 40 richest?
-8

issa1Jan. 31, 2012 - 11:23AM JST

Well, reading the comments above one can see as the Japanese people is so naive.The Japanese receive all these gaijins with open arms and look what we receive in exchange.
-7

issa1Jan. 31, 2012 - 11:29AM JST

Japanese government must apply the law of reciprocity with american companies.
0

ExportExpertJan. 31, 2012 - 11:49AM JST

So the unlucky executives at Yazaki get to draw straws to see who's gonna do the time or what
0

Sarcasm321Jan. 31, 2012 - 11:53AM JST

Will they be going to normal prison or special white collar crime country club prison?
0

malfupeteJan. 31, 2012 - 11:56AM JST

obviously its gonna be the country club.. hell, they may even give them seats on the board of some fortune 500 company
0

Andrew MatthewsJan. 31, 2012 - 11:58AM JST

@ Japanese government must apply the law of reciprocity with american companies.

I absolutely agree -

@ The Japanese receive all these gaijins with open arms and look what we receive in exchange.

As long as you treat them the same as Japanese and NOT gaijins.
1

CrazyJoeJan. 31, 2012 - 12:18PM JST

Yazaki Corp was fined 9.6 billion yen by the FTC (Fair Trade Commission) for bid rigging on Jan. 19 2012.
4

Elbuda MexicanoJan. 31, 2012 - 01:55PM JST

Many Japanese WORK outside of JAPAN, many Japanese live, immigrated to South America, MILLIONS just go to PERU, BRAZIL etc..who received whom with OPEN ARMS?? Most Japanese have an inferiority complex towards RICH USA and look down on poorer Latin America, not everybody but many Japanese just see white people and feel less and if they see some poor dude from Nepal, Africa, Bolivia, they look down on them, this is sad but true, so some people here need to understand the real Japan and its many, many layers of BS and then you can then begin to complain about gaijins being treated really great here in Japan, ask the Brazilians how they feel?? When Brazilian factory workers in Shizuoka worked and worked for months without PAY then for Christmas the company president took off and never paid anybody, mostly hard working BRAZILIAN Nikkei, this is the sad reality here in Japan.
2

lostrune2Jan. 31, 2012 - 02:42PM JST

Japan should not export bid-rigging.
4

RecklessJan. 31, 2012 - 04:13PM JST

issa1 is right, don't gloat. These guys were probably pressured by home office over unrecorded phone calls to do this and it seems they are dignified enough to take it like a man while their careers are over.

My concern is the US companies that went bankrupt FOREVER because of these practices. Even after paying hefty fines, the competitors are still dead. This is modus operandi of Japanese and Korean companies to kill competitors by illegal price fixing.
1

albaleoJan. 31, 2012 - 06:11PM JST

@Reckless "My concern is the US companies that went bankrupt FOREVER because of these practices."

But the prices were set artificially high, so wouldn't this benefit any competitors who were outside the cartel?
1

Nicky WashidaJan. 31, 2012 - 07:42PM JST

.The Japanese receive all these gaijins with open arms

hee hee! Thats a good one!
2

Hide SuzukiFeb. 01, 2012 - 07:50AM JST

We need to recruit some of these people from the American Justice department to do the same in Japan.
This is one of the reasons why things are so expensive
2

FadamorFeb. 01, 2012 - 01:50PM JST

@Malfupete,

I love it how the perpetrators of this white collar crime get relatively light sentences, even after swindling hundreds of millions of dollars from manufacturers and consumers. Bravo, justice system

Perhaps you missed the part about the companies paying $548,000,000 in fines (about 41,832,062,240 yen), and the executives spending two years in jail (with a subsequent deportation)? I wouldn't call that a "light" sentence.
0

crustpunkerFeb. 01, 2012 - 02:39PM JST

I can't help wondering if this is just business as usual or is it Japanese business as usual.

the old adage about la cockaroaches seems apt. Ya find one or two, there are bound to be hundreds more scurrying about...

time to rise up and take the power back people
0

crustpunkerFeb. 01, 2012 - 02:43PM JST

Perhaps you missed the part about the companies paying $548,000,000 in fines (about 41,832,062,240 yen), and the executives spending two years in jail (with a subsequent deportation)? I wouldn't call that a "light" sentence.

I think that Malfupete is talking about how based on the SEVERITY of the duplicities, a couple of executives spending 2 years (prolly less after all is said and done) in a country club prison seems like a light sentance. While there is a massive fine, PERSONAL responsibilty as in fingering the real perp who orchestrated it all seems to be absent as usual.
0

Suzu1Feb. 01, 2012 - 03:13PM JST

There is no parole in the Federal prisons so if they are sentenced to 2 years, they will serve 2 years. They will also, of course, serve the time in Federal prisons which means that in all likelihood they will be sent to another state away from friends or family who could visit.
0

kwbrow2Feb. 01, 2012 - 05:31PM JST

20,000 dollars seems a bit low to me. They defrauded people for 10 years. That is just 2,000 dollars per year. I think they are getting off to easy. A much bigger fine should have been given. But it is good they are doing time and had to pay something. Hopefully others will not be so quick to do they same thing in the future.
0

NeoJamalFeb. 01, 2012 - 11:56PM JST

As long as you treat them the same as Japanese and NOT gaijins.

Oh the irony
1

TahoochiFeb. 02, 2012 - 01:04PM JST

kwbrow2Feb. 01, 2012 - 05:31PM JST

20,000 dollars seems a bit low to me

Really? Their company is paying a 500 million dollar fine. I'd say the weight of knowing that $500 million is coming out of their fellow employees' pay checks and pockets is pretty hefty, don't you think? The $20,000 fine was probably aimed at sparing the livelihoods of the perps' families who are innocent and will be without their fathers' income for years to come..