FBI searches 3 local auto suppliers

[BeatleBoot]

Source: The Detroit News

Detroit -- The FBI in Detroit executed search warrants at the offices of three Metro Detroit automotive suppliers Tuesday night in connection with an international anti-trust investigation, officials said today.

The warrants were executed at the offices of Yazaki North America in Canton Township, Denso International in Southfield and Tokai Rika in Plymouth Township, said Special Agent Sandra Berchtold.

Gina Talamona, a spokeswoman for the anti-trust division of the U.S. Justice Department, said her office was investigating "the possibility of an anti-competitive cartel" by automotive electronic components suppliers.

"We are coordinating with the European Commission and other foreign competition authorities," Talamona said in a statement.



Read more: http://www.detnews.com/article/20100224/AUTO01/2240417/FBI-searches-3-local-auto-suppliers

[liberal N proud]

1. Not related to the investigation into Toyota recalls

When it rains it pours.

[Mopar151]

2. Nice to see the anti-trust division waking up

Like Rip Van Winlke - it'll take 'em a little while to adapt. They have some work backed up.

[ingac70]

3. Toyota supplier raided by FBI

Source: Straits Times

CHICAGO - THE US offices of Toyota supplier Denso were raided by the FBI as part of an antitrust investigation, the Japanese company said on Wednesday.

News of the raid came as Toyota president Akio Toyoda was being grilled by US lawmakers about defects which have led to accidents and millions of auto recalls.

'This is not related to the investigation into Toyota recalls,' Denso spokesman Bridgette LaRose Gollinger told AFP.

Read more: http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_494779.html

[HysteryDiagnosis]

4. Stats

MORE AT LINK: http://www.densocorp-na.com/news/pr.php?Action=450


DENSO Announces Third-quarter Financial Results
Date: 02/03/2010


Contact: Bridgette L. Gollinger
DENSO International America, Inc.
[phone]
[e-mail]


Kariya (Japan)--DENSO Corporation today announced its third quarter global financial results for the nine months ending Dec. 31, 2009:

- Consolidated net sales totaled 2,118.2 billion yen (US$23.0 billion), a 19.5 percent decrease from the previous year.

- Consolidated operating income totaled 78.8 billion yen (US$855.4 million), a 7.5 percent decrease from the previous year.

- Consolidated net income totaled 50.4 billion yen (US$546.9million), a 35.8 percent increase from the previous year.

"Despite the positive effects from each country's incentive programs, our sales and operating income have decreased, mainly due to vehicle inventory adjustments by car manufacturers in the first half of the year and a substantial currency exchange loss," said Sadahiro Usui, managing officer of DENSO Corporation. "However, our steady efforts in reducing fixed costs improved our income ratio and the fundamental direction of our financial results is toward a recovery."

In Japan, a decrease in domestic car production and product exports, mainly to North America and Europe, as well as currency exchange losses led to a decrease in sales to 1,463.2 billion yen (US$15.9 billion), a 19.4 percent decrease from the previous year. However, efforts such as a reduction in fixed costs led to an operating income of 13.7 billion yen (US$149.2million), a 380.2 percent increase from the previous year.

In North, Central and South America, despite an increase in sales to Toyota, a decrease in sales mainly to General Motors and Ford led to a decrease in sales to 378.8 billion yen (US$4.1 billion), a 20.5 percent decrease from last year. In spite of cost reduction efforts, a decrease in sales led to an operating income of 11.0 billion yen (US$119.1 million), a 14.8 percent decrease from the previous year.

In Europe, despite an increase in sales to Fiat and BMW, lower car production from Toyota resulted in a decrease in sales to 299.5 billion yen (US3.3 billion), a 21.2 percent decrease from the previous year. As a result of the decrease in sales, the operating income totaled 5.7 billion yen (US$61.7million), a 25.8 percent decrease from the previous year, despite cost reduction efforts.

[Mike 03]

5. Yes, this is fascinating. Thank you for this post.

Staying tuned to this development, to say the least.

[Jefferson23]

6. Incredible, the saga keeps rolling on.

[Doremus]

7. Is Denso a US or Japanese firm? n/t

[madrchsod]

9. japanese..supplies japanese cars made in the usa

[Doremus]

10. Thanks! Interesting indeed. n/t

[dipsydoodle]

24. Also supplies Fiat and BMW in Europe.

Mention of Toyota here seems to a red herring. The origin of the complaint appears to be the EEC : not the USA.

So - I guess you may all need to think twice before buying your next Ferrari. :sarcasm:

[madrchsod]

25. my last full time job was at a plant that made sub assemblies for toyota

the part consisted of parts from 6 different countries. the same parts are used in many of the auto assemblers in the world. the same part went into ordinary cars and several super cars..

toyota had the highest qc standards and we would receive complaints if the part was scratched. that is why i am dumb founded at toyota`s huge quality control issue and what they did to cover it up.

[liberal N proud]

8. Not related to the investigation into Toyota recalls

Interesting!

Things just get worse for Toyota.

[jmowreader]

11. What Denso makes...

According to their website, Denso makes:

Engine related components: gasoline engine management systems, diesel fuel injection systems, engine electricals, engine cooling systems.
Body equipment: meters, windshield wipers, windshield washers, horns, lights, flashers.
Driving control and safety products: antilock brake system controls (Prius recall, anyone?), TRC controls, VSC controls, doorlock controls, airbags, cruise controls, corner clearance warning systems.

[jmowreader]

12. What Denso makes...

According to their website, Denso makes:

Engine related components: gasoline engine management systems, diesel fuel injection systems, engine electricals, engine cooling systems.
Body equipment: meters, windshield wipers, windshield washers, horns, lights, flashers.
Driving control and safety products: antilock brake system controls (Prius recall, anyone?), TRC controls, VSC controls, doorlock controls, airbags, cruise controls, corner clearance warning systems.

[DJ13]

15. Denso makes:gasoline engine management systems,engine electricals

Checking into whether Denso was requested by Toyota to investigate the ECU's they probably supplied on the models suffering from unintended acceleration from the sound of it.

[jmowreader]

17. Keihin makes Toyota's ECUs

I think Denso makes their brake electronics, though. And remember, they're having problems with brake electronics on hybrids.

Fuck it...I'm going back to aircooled Volkswagens. They're just as high tech as an anvil, but anvils seem pretty durable to me.

[DJ13]

20. Ah, thanks.

Do they make the brakes on the Prius that have been screwing up?

[Chemisse]

13. This is all starting to strike me as odd.

Since when does the US pile onto a large corporation like this? There have been lots of recalls of many products, many of those only came after people died, and a few had evidence of coverup of costsaving decisions.

Yet when have we ever seen such a steady set of condemnations, Congressional hearings, and criminal investigations? And now this?

I am not complaining. If all companies were subjected to such consequences, we would have much safer products on the markets.

It just seems strange for Toyota to be singled out and criticized so thoroughly. Where was this same indignation - and follow through - when China sent us lead-laced toys, or poisonous pet foods, or when they got the lead out, but replaced it with the more toxic cadmium? How about the tobacco industry and its callous indifference to the fate of smokers, who they lured and hooked with heightened nicotine levels?

[mbperrin]

14. Soon Toyota will cough up sufficient campaign contributions, and that

should do it.

NOW can I find out who got how much payout on the AIG debacle?

[LittleGirl]

16. I've thought the same

"It just seems strange for Toyota to be singled out and criticized so thoroughly. Where was this same indignation - and follow through - when China sent us lead-laced toys, or poisonous pet foods, or when they got the lead out, but replaced it with the more toxic cadmium?"

I spoke that thought exactly that way today...WTH? I worked at automobile dealerships (traveling trainer) back in the 90s and there were hundreds of recalls with all manufacturers...and rarely a peep about it in the media.

Must be a slow news week/month.

[ingac70]

19. Obviously you do not remember the Ford/Firestone Congressional hearings.

What rock were you under?

[Union Yes]

18. America conducts anti-trust investigations? When did that start happening?

:sarcasm:

knr

[ingac70]

21. lol

+1

[Garbo 2004]

22. DOJ coordinating with European Commission & other foreign authorities in investigation:

Justice Department spokeswoman Gina Talamona said the department is conducting an investigation of automotive electronics suppliers. It was unclear if other companies were involved in the investigation.

"The antitrust division is investigating the possibility of anticompetitive cartel conduct," Talamona said in a statement. "We are coordinating with the European Commission and other foreign competition authorities."

http://www.latimes.com/business/nationworld/wire/sns-ap-us-toyota-supplier-investigation,0,4943178.story

[lib2DaBone]

23. Oh Brother.. Who is investigating Civilians KIlled in Afghanistan?

NO ONE. I thought so.