JTEKT fined over bearings cartel

Kyodo

Bearing maker JTEKT Corp. has been fined 5 million Canadian dollars (¥480,000) for its involvement in an international bid-rigging cartel, the Canadian Competition Bureau said.

JTEKT pleaded guilty to rigging bids on supplies of automotive wheel hub unit bearings to Toyota Motor Manufacturing Canada Inc. between 2007 and 2013, the bureau said Friday.

The fine for violating the Canadian Competition Act was ordered by the Superior Court of Quebec.