Fed grand jury indicts car executives for price fixing

CLEVELAND (AP) — Three executives in Japan’s automotive parts industry have agreed to plead guilty in a price-fixing conspiracy and two more have been indicted in the U.S. investigation.

The agreements to plead guilty to federal charges filed in Detroit and the indictment filed in Toledo were announced today by the U.S. Department of Justice.

The government says three executives of Tokyo-based Takata Corp. agreed to plead guilty to fixing prices on seatbelts installed in cars sold in the U.S.

The indictment returned by a grand jury in Cleveland charges two executives of a Japanese automotive supplier with plotting to fix prices of rubber parts sold to Toyota and installed in U.S. cars.

Takata says it has cooperated in the investigation.

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