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Kazuaki Fujitani, a former executive at Denso Corp. is expected to serve one year and one day in a prison in the United States after agreeing to plead guilty to one charge of obstruction of justice in the government's ongoing price-fixing probe of auto suppliers. Fujitani was general manager of Denso's Toyota sales division between February 2010 and March 2010 when he deleted "numerous e-mails and electronic documents" after learning that the Federal Bureau of Investigation executed a search warrant on Denso's US unit near Detroit, the Department of Justice said in a statement. The felony charge against Fujitani was filed in U.S. District Court in Detroit.
The files Fujitani deleted messages- covering Aug. 1, 2009 to Jan. 4, 2010 -- that showed communications between Denso and one or more rivals about "requests for quotation" made by Toyota for the heater control panel of the Toyota Avalon.
Toyota holds a 22-percent stake in Denso, which pleaded guilty in March 2012 and was made to pay $78 million in criminal fine for price-fixing its heater control panels and electronic control units. "As per the plea agreement made between the U.S. Department of Justice and DENSO on Jan. 30, 2012, we've been fully cooperating with the DOJ investigation," Denso said in a statement.Read the entire article Former Denso exec Kazuaki Fujitani agrees to plead guilty to obstruction of justice
South Korea's Fair Trade Commission has fined the local units of Denso Corp., Continental AG and Bosch around KRW114.6 billion ($107.99 million) for their role in fixing prices of components sold to Hyundai Motor Co. The fine comes as their counterparts in the United States, Europe and Japan continue their crackdown on price collusion among auto parts makers.
The covered parts include those for air-conditioning systems, seat belts, windshield wipers, radiators, power window motors and power steering. The Fair Trade Commission remarked that the units of Denso, Continental and Bosch had rigged prices of instrument panels and wipers sold to Hyundai and affiliate Kia Motors. Affected vehicles include Hyundai's Sonata, Elantra and Kia's Pride and Carnival.
Denso, a South Korean unit, and a Continental unit were found involved in price-fixing of instrument panels from January 2008 to March 2012 that were installed on 11 million Hyundai and Kia vehicles. Denso and another Korean unit and that of Bosch were found to have colluded on the prices of wipers between August 2008 and February 2009.Read the entire article Denso, Continental and Bosch fined KRW114.6bn for price fixing in South Korea
Denso Corp. posted a 75-percent surge in net income in the quarter ended June 30, 2013, to JPY86.04 billion ($872.7 million). The Japanese supplier also posted a 13-percent rise in revenues in the quarter to $10.12 billion. Denso logged a 31-percent in quarterly operating profit $1.04 billion. Kenichiro Ito, an executive director at Denso, remarked that despite a decline in vehicle production in Japan, the supplier’s sales and operating income surged thanks to steady vehicle production in North America and the emerging markets.
One of the biggest boosters of the supplier’s profit hike in the quarter is the continuing weakness of the Japanese yen against other currencies, accounting for $340 million of the operating profit. Denso logged a 30-percent surge in sales in North America to $2.1 billion and a 20-percent jump in operating income to $63.4 million. The Japanese supplier also logged a sales increase in Europe at 26 percent to $1.2 billion.
Higher labor cost and other expenses, however, dragged the company’s operating income in the quarter ended June 30, 2013 down by 5 percent to $17.5 million. Thanks to its strong performance in the quarter, Denso updated its earnings forecast to reflect an increase in expected net income of $2.47 billion on expected net sales of $39.46 billion in the fiscal year ending March 31, 2014.Read the entire article Denso logs JPY86-bil net income for quarter ended June 30
Two executives at Denso Corp. have agreed to plead guilty to conspiring to fix prices of electronic auto components sold to Toyota, according to the United States Department of Justice. The Denso executives, Japanese nationals Yuji Suzuki and Hiroshi Watanabe, have also agreed to cooperate with an ongoing criminal investigation.
The bargain agreement is the latest in an extensive probe onto price fixing for a variety of car components that has covered nine companies and obtained guilty pleas from 14 executives. The Denso executives will serve time in US prison and pay a criminal fine, according to the Justice Department. As part of the bargain agreement, Suzuki and Watanabe will be imprisoned for 16 and 15 months respectively.
According to the Justice Department, the two Denso executives agreed to plead guilty to conspiring to fix the prices of heater control panels that regulate vehicle temperature and were sold to Toyota Motor Corp. and a US unit. Suzuki likewise agreed to plead guilty to conspiring to fix the prices of electronic control units that regulate power windows, power locks and other electrical systems.Read the entire article Two Denso executives to plead guilty to price-fixing conspiracy
Denso International America Inc. will invest around $1 billion in North America in the next four years, the unit of Japanese supplier Denso Corp. disclosed at the Detroit auto show last week. According to Denso, the expansion will include around $750 million in the United States expected to create over 1,200 jobs.
Denso said it would expand production of some current components like radiators and condensers and would also add parts to its lineup in the US. These parts include stop-start starters, high output alternators, inverters for hybrid vehicles, memory-seat modules, and gasoline direct injectors. Denso will also produce its own production equipment, including dies, in North America as part of a plan to reduce imports from its Japanese parent. According to spokeswoman, Denso currently spends "several millions of dollars" annually on dies and other production equipment imported from Japan.
Denso currently employs 15,685 people at 32 plants, R&D facilities and administrative operations in North America. Denso’s $1-billion investments are part of the supplier’s five-year business plan, which entails increasing global revenues at a 7-percent annual rate to ¥4 trillion ($48.49 billion) in the fiscal year ending March 31, 2017, from $38.24 billion in the fiscal year ended March 31, 2012.Read the entire article Denso to invest $1 billion in North America in next four years
The U.S. Department of Justice said that a Denso Corp. executive has entered a deal to serve more than one year in prison and pay a fine of $20,000 as part of a plea agreement for his role in rigging bids for heater control panels. Norihiro Imai, who is a Japanese national, will go before the U.S. District Court in Detroit and will plead guilty to one felony count of price fixing. He will be sentenced to serve in a U.S. prison for one year and one day. The department said that together with the fine, Imai has agreed to cooperate in the ongoing price-fixing investigations of the Justice Department.
According to investigators, Imai was involved in a conspiracy with unknown co-conspirators to rig bids and to fix, stabilize and maintain the prices of heater control panels sold in the U.S. and in other markets.
The department found out that this conspiracy started in August 2006 and had continued until June 2009. Denso spokeswoman Julie Kerr said that the company takes this issue “very seriously” and that is currently taking measures to guarantee that its employees follow all antitrust regulations.Read the entire article Denso executive agrees to serve more than one year in prison and pay a fine of $20,000
With automotive infotainment becoming a fad among auto users, big names in the chip-making industry are taking their strides to enter the auto industry. Intel Corp. recently created a $100 million investment fund to urge both software and hardware developers to develop new technologies for automotive infotainment.
According to research firm Gartner Inc., autos will be one of the three fastest growing markets for connected devices and Internet content by 2014. Intel, the top player in the computer microprocessor market, named some technologies that it plans to develop for the auto industry: speech recognition, gesture recognition and eye tracking.
To that extent, Intel signed a memorandum of understanding with Japanese supplier Denso Corp to design next-generation vehicle infotainment systems on Feb. 29, 2012. Denso is known for developing the NaviBridge and Arpeggio infotainment technologies. NaviBridge allows a driver to use an iPhone to set destinations for the onboard navigator while Arpeggio allows the driver to use smartphone applications in the vehicle.Read the entire article Intel, Denso want a piece of the infotainment market
The U.S. Department of Justice has announced that Yazaki Corp. and Denso Corp have agreed to plead guilty in an expanding multicontinent bid-rigging case. Yazaki and Denso, which are two of the biggest auto-parts suppliers in Japan, would pay a combined total of $548 million in criminal fines as part of a plea agreement.
Four of Yazaki's Japanese executives have pleaded guilty and will be imprisoned in the U.S. Denso was accused of conspiracy to charge higher prices on heating-control panels and electronic control units. The Justice Department said that the Yazaki charges involved wire harnesses and related products.
Yazaki will pay a fine of $470 million -- the second highest criminal fine ever imposed for a Sherman Act antitrust violation. On the other hand, Denso will have to pay $78 million. The four Yazaki executives -- Tsuneaki Hanamura, Ryoji Kawai, Shigeru Ogawa and Hisamitsu Takada -- have agreed to serve prison time that span from 15 months to two years.Read the entire article Denso, Yazaki agreed to plead guilty in a widening multicontinent bid-rigging case
As part of an investigation on price-fixing allegations, the offices of Toyota Group supplier Denso Corp. were raided by Japanese fair trade regulators. In a brief statement, Denso confirmed the probe related to Japan’s anti-monopoly act and the “sales of certain automotive components.”
Officials from the Japan Fair Trade Commission entered Denso’s world headquarters in the city of Kariya, outside Nagoya. These officials also visited several other sales offices in the country.
Denso stated that it is cooperating with the investigation. This raid is part of a bigger probe that is meant to target Denso and six other parts makers over allegations that they had been colluding since 2002 to establish prices and select which companies would win contracts before bidding from automakers, according to a report from Japan’s Kyodo News Agency.Read the entire article Denso gets a visit from Japanese fair trade regulators
A maker of rubber auto parts has borrowed Denso Corp.’s factory to replace its plant that was damaged in the March 11 earthquake. Denso, which is a part of Toyota Group, is the largest parts supplier in the world.
Toyota has said that its output in Japan will be limited by shortages of electronic, rubber and plastic parts. Denso and Denso East Japan Corp. (a subsidiary) have reached a deal to temporarily lend Denso East Japan's plant to Fujikura Rubber Ltd.
Many of this company’s plants have been shut down since the earthquake. Fujikura Rubber has gone to Denso about using the factory to build industrial rubber products.Read the entire article Toyota’s Denso helps out Fujikura Rubber by lending factory
Japan-based Denso Corp. will invest $35.5 million to construct its first technical center in India. The parts supplier, which is affiliated with Toyota, said that the center will be built in order to be able to style products according to the needs of the thriving market in India.
In a statement, Denso revealed that the center, which will be in the northern city of Gurgaon, will open towards the end of 2011.
The center will focus mainly on powertrains, electric and electronic systems, information and safety systems and small motors.Read the entire article Denso to invest $35.5 million to build its first technical center in India
Denso Corp.'s system called Blue Harmony will be launched in 2011. Denso spokeswoman Bridgette Gollinger said that the prototypes are being demonstrated to potential customers, which she declined to name.
Denso's system faces competition from Kia Motors America, which will introduce a similar system developed by Hyundai-Kia Automotive Group on the 2011 Kia Sorento compact SUV called UVO.
Other companies designing competing technologies are Visteon Corp. and Delphi Automotive.Read the entire article Denso unveils new Blue Harmony infotainment system! Kia UVO in trouble?
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