Japanese Co. To Pay $18M For Auto Parts Price-Fixing

Law360, New York (October 30, 2012, 1:24 PM EDT) -- Japanese auto parts manufacturer Tokai Rika Co. Ltd. has agreed to pay $17.7 million to settle criminal charges that it conspired to fix rates for heater control panels and obstruct justice, the U.S. Department of Justice said Tuesday.

The Nagoya, Japan-based company agreed to plead guilty to conspiring to rig bids and fix prices for the auto parts sold to Toyota Motor Corp. in the U.S. and elsewhere for nearly seven years, according to the DOJ's Antitrust Division.

"The conspirators used code names and chose meeting...
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