February 8, 2017 / 9:51 PM / 5 months ago

Matsuo Electric, executive to plead guilty in U.S. to price-fixing conspiracy

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WASHINGTON, Feb 8 (Reuters) - Japan's Matsuo Electric Co Ltd and one of its executives agreed to plead guilty for their roles in a conspiracy to fix prices and rig bids for electrolytic capacitors sold to customers in the United States and elsewhere, the U.S. Justice Department said on Wednesday.

The department said in a statement Matsuo and the executive, Satoshi Okubo, were charged in the U.S. District Court of the Northern District of California. It said Matsuo and Okubo participated in the conspiracy for more than a decade until about January 2014.

Matsuo has agreed to pay a criminal fine and Okubo has agreed to serve a prison term of one year and a day under a plea agreement subject to court approval, the statement said. (Reporting by Eric Walsh)

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