A Japanese auto parts company agreed to pay a $120 million fine and plead guilty to charges that it fixed prices, becoming the latest supplier charged in the Justice Department’s sweeping antitrust investigation of the auto parts business, the department said on Tuesday.
Toyo Tire and Rubber Company agreed to admit to its role in two conspiracies to fix the prices of anti-vibration rubber and drive shaft components sold in the United States and elsewhere. The Justice Department said Toyo had agreed to cooperate with the investigation and that the plea agreement was subject to court approval.
Toyo is the 22nd company to be charged in the inquiry, which the department says is its largest antitrust investigation, involving authorities from Asia to North America to Europe.
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