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Japan: Koito becomes latest to pay US over auto price-fixing

 |  January 16, 2014

Japan-based auto parts manufacturer Koito Manufacturing will reportedly plead guilty in part of a US antitrust probe into allegations of price-fixing, say reports.

Along with a guilty plea, reports say the company will pay $56.6 million in fines. The announcement was made by the US Department of Justice on Thursday.

Koito reported fixed prices of lighting fixtures and ballasts to carmakers in the US. The DOJ is part of several competition regulators around the globe probing the alleged scandal. Earlier this month, Japan’s Nippon Seiki agreed to pay more than $4.5 million in fines as part of the same DOJ case.

Full Content: MSN

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