• Kyodo

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Automotive and hydraulic equipment maker Kayaba Industry Co. has agreed to pay a $62 million fine for its role in a price fixing scheme for shock absorbers for cars and motorcycles sold in the United States, the Justice Department said Wednesday.

The Tokyo-based company, better known as KYB Corp., will plead guilty to the allegation that it conspired to rig the prices of the component sold in the United States to Japanese automakers and their subsidiaries from the mid-1990s to 2012, the department said.

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