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KYB Fined for Price Fixing in U.S.
Japan's Kayaba Industry Co. has agreed to plead guilty and pay a $62 million criminal fine for manipulating the price of shock absorbers it sold to six car and motorcycle producers, the U.S.
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Japan's Kayaba Industry Co. has agreed to plead guilty and pay a $62 million criminal fine for manipulating the price of shock absorbers it sold to six car and motorcycle producers, the U.S. Dept. of Justice reports.
The Tokyo-based company, also known as KYB Corp., concedes it conspired with two other shock absorber suppliers to set prices for units supplied to Honda, Kawasaki, Nissan, Subaru, Suzuki and Toyota between the mid-1990s and 2012.
KYB's guilty plea is the latest result of an international antitrust investigation into vehicle component price fixing that so far has charged 37 suppliers and 55 current or former executives in the U.S. alone. The Justice Dept. says the companies have agreed to pay $2.6 billion in criminal fines.
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