Panasonic fined $4.7 million

Panasonic Corporation was fined $4.7 million after pleading guilty to rigging bids for certain types of switches and sensors supplied to Toyota for various cars, the Competition Bureau announced today.

Panasonic’s conviction is the fifth in the Bureau’s auto parts investigation, bringing total fines to $49.2 million. See our Auto Parts Investigation table.

This is also Panasonic’s second conviction for Competition Act offences. In 2010, it pleaded guilty and was fined $1.5 million for fixing the price of hermetic compressors used in refrigeration equipment.