WASHINGTON, Jan 16 (Reuters) - Japan-based Koito Manufacturing Co Ltd has agreed to plead guilty to two counts of conspiring to fix auto parts prices and will pay $56.6 million in criminal fines, the U.S. Justice Department said on Thursday.
Koito and other unnamed companies conspired to push up the prices of lighting fixtures and lamp ballasts used to make headlights, tail lights, brake lights and turn signals. The parts were sold to automakers in the United States and elsewhere, the department said in a statement.
Koito has also pledged to cooperate with the department’s ongoing probe.
Law enforcement authorities in the United States and elsewhere have brought charges related to price fixing of more than 30 types of car parts, including seat belts, radiators, windshield wipers, air-conditioning systems, power window motors and power steering components.
Including Koito, 24 companies have pleaded guilty or agreed to plead guilty in connection with the U.S. probe. Twenty-six executives have been charged.