GM Suppliers in Japan Plead Guilty in $5 Billion Cartel Case
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Mitsubishi Electric Corp., Hitachi Automotive Systems Ltd. and seven other Japanese companies agreed to plead guilty and pay a total of $740 million in fines for a price-fixing conspiracy targeting automakers that included General Motors Co. and Ford Motor Co.
Chrysler Group LLC and Toyota Motor Corp. were also among car companies operating in the U.S. that faced inflated costs on more than $5 billion of parts, affecting prices on at least 25 million vehicles, U.S. Attorney General Eric Holder said in a news conference yesterday in Washington.