Two Japanese auto suppliers have agreed to pay more than $500 million in criminal fines for a price-fixing conspiracy in the sale of parts to U.S. automakers, the Justice Department announced Monday.

Yazaki Corp. agreed to pay a $470 million fine, the second-largest criminal fine obtained for an antitrust violation. The second company, DENSO Corp., agreed to pay a $78 million fine. Four Yazaki executives, all Japanese citizens, will serve up to two years in U.S. prison.

Court documents say the Japanese companies and executives sold automotive electrical components to automakers in the United States and elsewhere at inflated prices from at least January 2000 through February 2010.

The Justice Department would not comment on which automakers were affected by the conspiracy, how many models and how much the scheme inflated vehicle prices because the investigation continues.

But an official said there’s no doubt consumers were hurt financially.

Defense contractor sells more sensors

Erapsco Inc. has been awarded a $38.4 million military contract to make sonobuoys for the U.S. Navy and Taipei Economic and Cultural Representative Office in the United States under the Foreign Military Sales Program.

The award is in addition to a similar contract announced in November for $15.6 million.

Sonobuoys are sensors that can search for and detect submerged submarines. Erapsco is a 50/50 partnership between Columbia City-based Undersea Sensor Systems Inc. and Sparton Electronics Inc. of DeLeon Springs, Fla.

Work is expected to be completed in 2014. No new jobs are being created by the order, Joe Peters, USSI’s president, said Monday.

Verizon upgrades top $150 million in state

Verizon Wireless on Monday announced it invested $159 million last year to enhance its Indiana network in 23 Hoosier cities, 10 major universities and four professional sporting venues.

The company’s continuing infrastructure improvements included adding new cell sites and upgrading equipment on existing cell sites to increase coverage and capacity of the company’s voice and data network; and installing permanent backup generators at cell sites.

“The reliability of Verizon’s network is a vital key for not only businesses, research parks, start-ups and entrepreneurs, but also for consumers,” said John Granby, president of the Indiana-Kentucky-Michigan Region.

Since the company was formed in 2000, Verizon Wireless has invested more than $1.3 billion on improvements in Indiana.

Profits almost double for Evansville bank

Old National Bancorp on Monday reported 2011 annual earnings of $72.5 million, or 76 cents per diluted common share, almost twice the $38.2 million, or 44 cents a share, posted for 2010.

The Evansville-based parent of Old National Bank also reported fourth-quarter earnings of $22.2 million, or 23 cents per diluted common share, almost a fourfold increase from the $5.7 million, or 7 cents a share, posted for the same three months of the prior year.

Old National last year acquired certain assets of Integra Bank N.A. from the Federal Deposit Insurance Corp. in an FDIC-assisted transaction. The move contributed to an almost 19 percent climb in total assets year-over-year. The company reported total assets of $8.61 billion as of Dec. 31.