NDRC to release decisions on Japanese car-parts makers soon
18 August 2014. By MLex Staff.
China’s National Development and Reform Commission is set to announce soon the results of its antitrust investigation into suspected price fixing in the Japanese auto-parts sector.
Administrative decisions on the 12 companies involved in the probe could be released as soon as this week, it is understood.
The NDRC has received four rounds of leniency applications from the companies under investigation, it is understood. At least one company self reported and applied for leniency by May, as previously reported by MLex.
On Aug. 6, the NDRC confirmed that it has probed a dozen Japanese companies in the parts and bearings sectors for price fixing.
According to the state-run Economic Information Daily, the 12 companies will face a penalty over one billion yuan ($163 million).
Earlier this month, Japanese car-parts manufacturer Yazaki has confirmed to MLex that it is under investigation. Sumitomo Electric and Furukawa are also understood to be among the dozen companies facing penalties.
The NDRC has been following other jurisdictions including the US, EU, Japan and Singapore, and looking into price fixing in the auto-parts industry in what would be its second global cartel case.
World-wide probes into cartels among car-part manufacturers take in more than 100 products and 70 companies, with regulators in North America, Asia and Europe pursuing makers of car components for several years, suspecting them of rigging bids for components.
The range of products includes heating systems, ignition technology, car-wiring, sound systems and safety equipment.