CINCINNATI — The Justice Department says a Japanese company charged in a conspiracy to fix prices of shock absorbers installed in cars and motorcycles sold to U.S. customers agreed to plead guilty and pay a $62 million fine.
Court documents show a charge of conspiracy to restrain trade was filed Wednesday in federal court in Cincinnati against Kayaba Industry Co. Ltd., doing business as KYB Corp.
A Justice Department statement says the Tokyo-based company conspired from the mid-1990s until 2012 to fix prices of shock absorbers sold to competitors.
Messages were left Thursday for KYB attorneys.
The plea agreement is subject to court approval
It resulted from an ongoing investigation of anticompetitive conduct in the auto parts industry. Charges against numerous companies and executives have led to $2.6 billion in criminal fines.