FILE PHOTO: A sign of NHK Spring Co., commonly referred to as the Nippatsu, will be seen by the growth in its production plant in Ota, Gunma prefecture, north of Tokyo, Japan, April 24, 2015. REUTERS/yuya Treason/File Photo
WASHINGTON (Reuters) – Japanese electronics part maker, has agreed to pay $28.5 million for its role in a price-fixing scheme, the U.S. Department of Justice said on Monday.
NHK Spring Co. Ltd. pleaded guilty in the U.s. district court in Michigan, with a felony charges of conspiring with others, who are unnamed, to fix prices and to refrain from engaging in price competition, according to a Department of Justice press release.
The Japanese manufacturer of suspension assemblies used in hard disk drives using the price information to be shared with competitors as a basis for negotiations with customers throughout the United States and abroad, the Justice Department said.
NHK Spring will not immediately respond to a request for comment.
The company went with the price is the result of the operation from the beginning of May 2008 until the end of April 2016, according to the prosecutor’s office.
As part of a plea deal, NHK Spring, you will have to pay the fine and cooperate with an ongoing investigation.
Report by Bryan Pietsch; Editing by Tom Brown