Toyo to Pay $120 Million Criminal Fine in Price-Fixing Case
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Japan’s Toyo Tire & Rubber Co. agreed to plead guilty and pay a $120 million criminal fine for conspiring to fix prices of automotive parts sold to Toyota Motor Corp. and other carmakers, the U.S. said.
Toyo conspired to fix prices for anti-vibration rubber parts from as early as 1996 until at least May 2012, the Justice Department said in a statement today. Besides Toyota, the parts were sold to Nissan Motor Corp. and Subaru Co.