Japan's Nippon Seiki to plead guilty to price-fixing in U.S.


WASHINGTON, Aug 28 (Reuters) - Japan's Nippon Seiki Co Ltd has agreed to plead guilty to conspiring to fix prices of dashboard panel instruments and will pay a $1 million fine, the U.S. Justice Department said on Tuesday.

The company is the eighth to enter a guilty plea in the United States for fixing auto parts prices. U.S. and European regulators are investigating the industry.

Nippon Seiki agreed to plead guilty to a single count of price-fixing of instrument panel clusters, the gauges and instruments that drivers see on their dashboards. It was involved in a conspiracy that ran from at least April 2008 to February 2010, the Justice Department said.

The following companies previously agreed to plead guilty to price-fixing or have already entered a guilty plea: a subsidiary of TRW Automotive Holdings Corp, Swedish auto parts company Autoliv, Fujikura Ltd, Furukawa Electric Co Ltd, Denso Corp, Yazaki Corp and G.S. Electech.

Fines for the companies have topped $785 million.

Eleven executives have agreed to plead guilty in connection with the probe.



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