U.S. indicts 3 in Bridgestone price-fixing case

'Bout time this crap is called out.

Same old story. These guys found out they can't get away with the crooked stuff they practice routinely in other countries.

Too bad the J govt. isn't as strict as in the US about price fixing here.

We will have no effective deterrent to corporate crime until executives face the risk of jail time.

A federal grand jury in Cleveland, Ohio, issued the indictment accusing Yoshiyuki Tanaka, Yasuo Ryuto and Isao Yoshida of plotting with other companies to set prices and stifle competition in sales of anti-vibration rubber parts sold to Japanese automakers in the United States between 2001 and 2008.

Guess they learned the hard way that U.S. laws apply to all nationalities equally. Must have never heard the saying "Don't do the crime if you can't do the time". Possibly because corporate crime is so rarely prosecuted in Japan, and even when it is, the offenders just get a slap on the wrist.

Bridgestone's victim was Toyota. It was caught cheating Toyota. Before Bridgestone case, there were a few Japanese parts makers punished for their price fixing practice. That case was cheating Bridgestone. Now, Yokohama Tire will get more business and Toyota cars in USA will be cheaper. Commercial banners on MLB field, this season, Bridgestone disappeared. Saving ad costs for paying penalty, I'd bet.

Now if they could only do the same thing about price-fixing here in Japan. The practice is just as illegal in Japan as it is in America, but it is never punished here. You see examples every day, such as when you go to a movie theater, but even these "naked in broad daylight" examples are ignored by regulators and law enforcement.

wouldnt it be great if price fixing was treaded more seriously here in Japan, yes jail time for execs found guilty. things would be so much cheaper. but when you have people who are affraid to speak out and prefer to toe the line. sorry nothing will change

The corporations cheated by price fixing are stronger and they speak up. Part makers who did prce fixing to cheat Toyota were caught. Toyota accused them. In price fixing, cheated corporations are not afraid to speak up and do not prefer secret.