September 29, 2014

Japanese auto parts maker Toyoda Gosei Co. Ltd.agreed to plead guilty and to pay a $26 million criminal fine for its role in conspiracies to fix prices and rig bids for automotive hoses, airbags and steering wheels sold to automobile manufacturers. Specifically, Toyoda Gosei conspired to fix the prices of certain automotive hoses sold to Toyota Motor Corp. and certain of its subsidiaries, affiliates and suppliers in the US; and conspired to fix the prices of automotive airbags and steering wheels sold to Toyota and Fuji Heavy Industries Ltd. and certain of its subsidiaries, affiliates and suppliers in the US. To date, 43 individuals have been charged in the government’s ongoing investigation into price fixing and bid rigging in the auto parts industry. Twenty-nine companies, including Toyoda Gosei, have pleaded guilty or agreed to plead guilty and have agreed to pay a total of nearly $2.4 billion in fines. DOJ