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NYK executive jailed for price fixing in the US

NYK executive jailed for price fixing in the US
A Nippon Yusen Kaisha (NYK) employee was sentenced to jail and fined after pleading guilty for conspiring to price fixings in the car carrier business.

Susumu Tanaka, a manager in NYK’s car carrier division, was sentenced to 15 months in prison and fined $20,000 for his involvement in a conspiracy to fix prices, allocate customers and rig bids of shipping services for ro-ro cargo, to and from the US and elsewhere, the US Department of Justice announced.

Tanaka participated in the conspiracy from at least as early as April 2004 until at least September 2012.

The NYK manager is the third Japanese car carrier executive to be sentenced in the ongoing probe on price fixings.

Takashi Yamaguchi and Hiroshige Tanioka, both former executives of Kawasaki Kisen Kaisha (K Line) had earlier pleaded guilty and given similar sentences last month.

Tanaka has agreed to assist the department in its ongoing investigation. “This investigation is far from over. We are continuing our efforts to hold accountable the companies and executives who seek to maximize profits through illegal, anticompetitive means,” said Bill Baer, assistant attorney general for the antitrust division.

In addition to the three individuals charged, three Japanese lines – K Line, NYK and Mitsui OSK Lines (MOL) – have agreed to plead guilty and pay criminal fines totalling more than $136m.