Former Toyoda Gosei exec to plead guilty to price fixing in U.S.

A former executive of Japan's Toyoda Gosei Co Ltd has agreed to plead guilty to price fixing and rigging bids for auto parts made for cars sold in the United States, the Justice Department said on Tuesday.

As part of the deal, Japanese national Makoto Horie agreed to serve one year and a day in prison and to pay a criminal fine of $20,000, the department said.

The Justice Department, along with antitrust enforcers worldwide, have been investigating price fixing of more than 30 car parts, including seat belts, air-conditioning systems, power window motors and power steering components.

Toyoda Gosei is among 32 companies that have pleaded guilty to fixing the prices of dozens of car parts. With Horie's plea deal, a total of 49 executives have been charged or have pleaded guilty to price fixing.

Horie, a former Toyoda Gosei sales executive in Japan and at a Michigan subsidiary, has agreed to plead guilty to fixing the prices of automotive hoses that were sold to Toyota Motor Corp or its affiliates, the department said.

Horie could not be reached for comment.

The case is in the U.S. District Court for the Northern District of Ohio. It is United States v. Makoto Horie, No. 15-003.

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Japan, Toyoda Gosei Co Ltd, United States, Justice Department

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