jpillian Posted February 24, 2010 Share Posted February 24, 2010 Toyota supplier Denso says FBI raided US office Denso says search related to antitrust investigation * WSJ says two other Toyota suppliers also searched (link added to WSJ article by OP) DETROIT, Feb 24 (Reuters) - Toyota Motor Corp (7203.T) (TM.N) supplier Denso Corp (6902.T) said on Wednesday that its U.S. office had been raided by FBI agents as part of an investigation into alleged antitrust violations. Denso spokeswoman Bridgette Gollinger said the investigation was "absolutely not" related to ongoing recalls by Toyota. Denso supplies accelerator pedals and other components to the automaker. "We are cooperating with the investigation," Gollinger said. The FBI raid was first reported by The Wall Street Journal, which said that federal investigators had also searched the Detroit area offices of two other Toyota suppliers, Yazaki and Tokai Rika. A spokesman for Tokai Rika could not be immediately reached for comment. Yazaki said it would have a statement ready shortly. The FBI's Detroit office and federal prosecutors did not return calls seeking comment. News of the investigation came just as Toyota President Akio Toyoda was set to begin closely watched testimony on the automaker's safety crisis before congressional investigators. Link to comment Share on other sites More sharing options...
jpillian Posted February 24, 2010 Author Share Posted February 24, 2010 Okay, so what's the deal here -- did Toyota tick off the US good ole boys network, or what? Referring to this new anti-trust investigation, along with all the recall hubbub. Seems like the sort of things that happen to a business when it's not greasing the appropriate political skids. No? Link to comment Share on other sites More sharing options...
ABQCOWBOY Posted February 24, 2010 Share Posted February 24, 2010 Interesting. I guess I haven't been following this story closely enough. Seems a bit heavy handed to send the FBI in to raid the Toyota guys. Interesting how the AIG's of the world did not receive this sort of treatment. Link to comment Share on other sites More sharing options...
PCS Posted February 24, 2010 Share Posted February 24, 2010 Meanwhile,back at Ford H.Q.: :halo: Link to comment Share on other sites More sharing options...
Destino Posted February 24, 2010 Share Posted February 24, 2010 This should be interesting. Rarely does the government make headlines like this without cause when it involves a deep pocketed entity like Toyota. Perhaps in investigating the recall that Toyota resisted undertaking the investigators stumbled onto something else? Link to comment Share on other sites More sharing options...
jpillian Posted February 24, 2010 Author Share Posted February 24, 2010 This should be interesting. Rarely does the government make headlines like this without cause when it involves a deep pocketed entity like Toyota. Perhaps in investigating the recall that Toyota resisted undertaking the investigators stumbled onto something else? Like -- Toyota killed Jimmy Hoffa? No, I know what you mean, Destino. Should be interesting to see how this unfolds. OTOH, perhaps this supplier anti-trust bit is unrelated. Seems hard to fathom that it would be, but coincidence in newsworthy events does happen. Link to comment Share on other sites More sharing options...
Larry Posted February 24, 2010 Share Posted February 24, 2010 The US has anti-trust laws? Edit: And we can't find any American companies that are violating them? Link to comment Share on other sites More sharing options...
Destino Posted February 24, 2010 Share Posted February 24, 2010 Like -- Toyota killed Jimmy Hoffa? No, I know what you mean, Destino. Should be interesting to see how this unfolds. OTOH, perhaps this supplier anti-trust bit is unrelated. Seems hard to fathom that it would be, but coincidence in newsworthy events does happen. They supply the parts in question so what I was thinking is that perhaps while investigating they found that these parts suppliers were price fixing. I notice they hit several and claim it's unrelated to the Toyota investigation/recall. Are we assuming that the target of the investigation is Toyota or do we know that for certain? Perhaps it's the suppliers themselves. Link to comment Share on other sites More sharing options...
Bang Posted February 24, 2010 Share Posted February 24, 2010 Denso sounds like a company name Monty Python made up. ~Bang Link to comment Share on other sites More sharing options...
DeanCollins Posted February 24, 2010 Share Posted February 24, 2010 Denso sounds like a company name Monty Python made up.~Bang It's Nippon Denso, the company has been making oem parts for japanese cars and motorcycles for 50 years. Incorporated: December 16, 1949 as Nippondenso Company NAIC: 333319 Other Commercial and Service Industry Machinery Manufacturing; 333618 Other Engine Equipment Manufacturing; 336312 Gasoline Engine and Engine Parts Manufacturing; 336322 Other Motor Vehicle Electrical and Electronic Equipment Manufacturing; 33633 Motor Vehicle Steering and Suspension Components (except Spring) Manufacturing; 336399 All Other Motor Vehicle Parts Manufacturing A well-established spin-off of Toyota Motor Corporation, the DENSO Corporation (originally incorporated as the Nippondenso Company) is Japan's leading producer of automobile components and the world's fourth largest. Its products include air conditioners and heaters, electrical and electronic control products, fuel management systems, radiators, meters, and filters. General Motors leaders acknowledged DENSO as a model for GM spin-off Delphi Automotive. As the second-largest member of the Toyota Group, more than half of DENSO's products go to Toyota Motor Corporation (TMC), which owns better than 20 percent of DENSO stock. DENSO also supplies nearly all other major Japanese automakers as well as numerous U.S. manufacturers, including Ford, General Motors, and Chrysler, and major European auto manufacturers such as Volvo, BMW, and Fiat. The company's emphasis on quality control and improved manufacturing efficiency throughout its history, its aggressive international expansion program, and its well-funded research-and-development activities since the 1960s have produced steady sales growth and allowed DENSO to capture dominant positions in many of its world markets. Nippondenso rose to its international presence from Toyota Motor Corporation's in-house electrical and radiator operations, which began after Toyota Automatic Loom Works formed an automobile division in 1933. In 1936, the Japanese government passed legislation to promote domestic production of automobiles. Loom Works separated its automobile division from the rest of the company, and the motor division developed an in-house electrical-parts factory. Link to comment Share on other sites More sharing options...
Prosperity Posted February 24, 2010 Share Posted February 24, 2010 Okay, so what's the deal here -- did Toyota tick off the US good ole boys network, or what?Referring to this new anti-trust investigation, along with all the recall hubbub. Seems like the sort of things that happen to a business when it's not greasing the appropriate political skids. No? That's my guess (or at least one guess), GM+Chrysler are already massively powerful, if their well being starts becoming a government concern (which the massive bailouts did) then there would definitely be a motivation. Link to comment Share on other sites More sharing options...
Fergasun Posted February 24, 2010 Share Posted February 24, 2010 This is ridiculous. The Government owns GM and Chrysler, and their ownership is actually unconstitutional (Congress never approved this). This raises serious conflict of interest issues. Link to comment Share on other sites More sharing options...
SkinInsite Posted February 25, 2010 Share Posted February 25, 2010 Isn't this what happens in a Tom Clancy book, do we have any joint navy exercise with Japan coming up :paranoid: Link to comment Share on other sites More sharing options...
Destino Posted February 25, 2010 Share Posted February 25, 2010 This is ridiculous. The Government owns GM and Chrysler, and their ownership is actually unconstitutional (Congress never approved this). This raises serious conflict of interest issues. You're assuming the government isn't 100% right. Looking at the deaths reported from Toyota's little problem I'd say the government took too long to force the issue with them. As for this story we don't even know if Toyota is the focus of the investigation. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.