US: Toyoda Gosei pleads guilty on parts price fixing
Toyoda Gosei has agreed to plead guilty to price-fixing and pay a US$26m fine according to the US Justice Department.
Toyoda Gosei has acknowledged conspiring to fix prices of airbags, steering wheels and automotive hoses. It is the latest in a long line of auto parts makers to plead guilty to price-fixing since the Justice Department began its investigation.
Toyoda Gosei conspired with other parts makers to fix prices of parts sold to Toyota Motor Corp and Subaru between 2003 and 2010, the department said in a statement.