“Toyota Motor Corp. (7203) suppliers embroiled in the largest cartel probe on record have rebounded from a slump that followed almost $1 billion in fines in Japan and the U.S. Now they face the prospect of even more penalties in Europe.
EU fines will probably be announced this year, said Takeshi Shinagawa, a director at the Japan Fair Trade Commission. Parts makers Sumitomo Electric Industries Ltd. (5802), JTekt Corp. (6473) and at least 12 others could get EU cartel fines higher than those levied in Japan, he said.
Toyota affiliate Denso Corp. (6902) and Sumitomo Electric, also a supplier to Honda Motor Co. and Nissan Motor Co., have been investigated in cartel probes following raids of four manufacturers by watchdogs in the U.S., the EU and Japan in 2010. Fines this year may be big enough to cause declines in the component makers’ shares, said Syusaku Nishikawa, an analyst at Daiwa Securities Co….”
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