News Release

Home > Topics


Plea agreement with the US Department of Justice
concerning automotive wire harness cartel

January 31, 2012
Yazaki Corporation

On January 30, 2012 (US Eastern time), Yazaki Corporation concluded a plea agreement with the United States Department of Justice to the effect that the company acknowledges the allegations, pleads guilty and pays a fine of US$ 470 million in the criminal proceedings relating to cartel activities with certain competitors for automotive wire harnesses and related products.

Yazaki Corporation has been faithfully cooperating with the DOJ investigation since its inception on February 23, 2010. The plea agreement is intended to resolve all issues between the company and the DOJ arising out of this investigation, upon analyzing the applicable laws, facts and circumstances as a whole.

The company will account for the amount equivalent to the fine as an extraordinary loss in the settlement of accounts for the fiscal year ending June 2012. The persons involved shall be subject to strict internal disciplinary measures. In light of the seriousness of this matter and as a reflection of remorse, the directors shall return a part of their remuneration as follows:

Yasuhiko Yazaki, Chairman 50% for 3 months
Shinji Yazaki, President 50% for 3 months

In relation to this issue, investigations were also initiated at approximately the same time by the Japan Fair Trade Commission and the European Commission. That matters have come to this, Yazaki Corporation takes with the utmost seriousness. In order to prevent any recurrence, the company has intensified its various efforts including conducting thorough internal investigations, reviewing internal rules, conducting regular educational programs and monitoring activities. Yazaki Corporation is committed to observing all applicable laws, the highest standards of corporate ethics and relevant social norms, and to this end all group companies worldwide shall further strengthen their compliance activities.