Japanese Auto Companies Will Pay $740 Million For Price-Fixing Scheme

Suppliers plead guilty to fixing prices of products sold to automakers

WASHINGTON (AP) - The Justice Department says nine Japanese companies and two of their executives will plead guilty and pay millions in criminal fines for conspiring to fix the prices of products sold to automakers.

As part of the scheme, more than $5 billion in auto parts were sold to U.S. car manufacturers and installed in cars sold in the United States and elsewhere.

The department says the affected parts were sold to Chrysler, Ford and General Motors and U.S. subsidiaries of Honda, Mitsubishi, Nissan, Toyota and Subaru.

The companies will pay more than $740 million in criminal fines.

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