Reuters logo
Former T.RAD executive indicted in auto parts price fixing case
May 14, 2015 / 4:46 PM / 2 years ago

Former T.RAD executive indicted in auto parts price fixing case

WASHINGTON, May 14 (Reuters) - A former executive of Japanese auto parts maker T.RAD Co Ltd was indicted on Thursday on one charge of fixing the prices of radiators sold to car makers, the Justice Department said.

Michitaka Sakuma, former executive managing director of T.RAD, was accused of coordinating with other auto parts makers to illegally set the prices of radiators sold to Honda Motor Co. Ltd. and Toyota Motor Corp, the department said.

Sakuma, a member of the company’s board of directors, was a general manager for T.RAD in charge of Toyota sales but rose to executive managing director for all sales, according to an indictment filed in federal court.

He is the second T.RAD executive to face criminal charges.

T.RAD is among 35 companies which have pleaded guilty to fixing the prices of dozens of car parts. A total of 53 executives have been charged with price-fixing or rigging bids of auto parts in the long-running probe.

The case is United States of America v. Michitaka Sakuma. It is filed at the U.S. District Court for the Eastern District of Michigan and is case No. 15-20290. (Reporting by Diane Bartz; Editing by Eric Beech and Christian Plumb)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below