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Canada Fines Japanese Supplier $13 Million for Price Fixing
Canada has fined Japan’s Showa Corp. $13 million (US$10 million) for conspiring to rig prices on electric power steering components sold to Honda Motor Co. in 2007-2008.
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Canada has fined Japan’s Showa Corp. $13 million (US$10 million) for conspiring to rig prices on electric power steering components sold to Honda Motor Co. in 2007-2008.
The fine caps an investigation by Canada’s Competition Bureau as part of a continuing international probe into price fixing among auto suppliers. The bureau’s actions have resulted in nine guilty pleas from Japanese suppliers and nearly $71 million in fines to date.
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