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Auto exec fined ¥500,000 over bribes

Kyodo

The Nagoya Summary Court fined a former executive of Futaba Industrial Co., a car parts affiliate of Toyota Motor Corp., ¥500,000 for allegedly bribing an official in China to ignore an irregularity at a subsidiary’s factory in Guangdong Province.

The fine came after Takehisa Terada, 68, was indicted the same day for violating the Unfair Competition Prevention Law banning the bribing of foreign officials.

Aichi police arrested Takeda, formerly senior managing director at Futaba Industrial in Okazaki, Aichi Prefecture, on Sept. 11.