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Japanese Supplier Admits Price Fixing

Will pay $18 fine in Justice Dept. probe.

by on Oct.31, 2012

Supplier Tokai Rika likely wasn't delighted at the reality of being convicted for price-fixing.

A Japanese supplier has pled guilty in a probe by the U.S. Justice Department into price fixing in the auto industry, which continues to grow and has now snared nine different companies on three different regions of the world.

Nagoya, Japan-based Tokai Rika Co. Ltd. has agreed to plead guilty and to pay a $17.7 million criminal fine for its role in a conspiracy to fix prices of heater control panels installed in cars sold in the United States and elsewhere, the Department of Justice announced.

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Tokai Rika has also agreed to plead guilty to a charge of obstruction of justice related to the investigation of the antitrust violation. The company’s American arm is based in Plymouth, and it also has units in Battle Creek and Jackson.

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