Nachi-Fujikoshi and two former officials found guilty of forming illegal cartel
Company fined JPY180 million (USD2 million) while the two former officials were given suspended prison sentences.
Japanese bearing maker Nachi-Fujikoshi and two of its former officials were found guilty today (28 December) by the Tokyo District Court of forming an illegal price cartel for industrial machinery products, reports Kyodo News. Nachi-Fujikoshi was fined JPY180 million (USD2 million) while the two former officials were given suspended prison sentences. The two former officials were Keiichi Ogino, a former member of the company's board of directors who was sentenced to 14 months in prison, suspended for three years, and Michio Murai, a former deputy chief of the company's bearing division who was sentenced to 12 months, suspended for three years. During the trial, the prosecutors argued that Nachi-Fujikoshi, along with three other bearing makers – NSK, NTN and JTEKT – formed the cartel to pass material price increases on to their customers.
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