Auto parts maker to pay fine in price-fixing case

AP News
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Posted: Sep 29, 2014 4:42 PM

CLEVELAND (AP) — The U.S. Justice Department says a Japanese auto parts manufacturer has agreed to pay a $26 million fine and to plead guilty to fixing prices and rigging bids for various parts sold to automakers in the U.S.

The federal government says Toyoda Gosei Co. Ltd. was charged in U.S. District Court in Toledo on Monday with two counts of price fixing regarding sales of automotive hoses, air bags and steering wheels to Toyota Motor Corp. and to Fuji Heavy Industries Ltd., which makes Subarus.

The Justice Department says Toyoda, based in Aichi, Japan, and its co-conspirators have agreed to cooperate in the criminal case.

Toyoda says a company spokesman was not immediately available for comment Monday.