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Thursday, November 21, 2013

Takata officials to plead guilty in U.S. price-fixing case -govt, (NYSE: HMC), (OTHER OTC: NSANY), (NYSE: TM)

Three executives of Japan's Takata Corp will plead guilty to conspiring to fix the price of seatbelts sold to automakers in the United States and will go to jail for 14 to 19 months, the Justice Department said on Thursday. Takata settled with the Justice Department in October, agreeing to pay $71.3 million to settle antitrust charges.The three executives worked with car makers such as Toyota Motor Corp and Subaru, which is owned by Fuji Heavy Industries Ltd, Honda Motor Co Ltd, Mazda Motor Corp and Nissan Motor Co Ltd, all of which purchased Takata seat belts.One of the three executives, Yasuhiko Ueno, was a past employee of a Takata subsidiary in the United States, TK Holdings Inc, and will serve 19 months in prison, the department said.The other two, Saboro Imamiya and Yoshinobu Fujino, currently work for Takata in Japan. Imamiya will serve 16 months in prison while Fujino will serve 19 months, the department said.

Honda Motor Co., Ltd. (Honda) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines and scooters to specialty sports cars. Shares of HMC traded higher by 2.72% or $1.12/share to $42.31. In the past year, the shares have traded as low as $32.18 and as high as $42.13. On average, 335385 shares of HMC exchange hands on a given day and today's volume is recorded at 326414.

NISSAN MOTOR CO., LTD. is an automobile manufacturer. Shares of NSANY fell by 0.32% or $-0.06/share to $18.41. In the past year, the shares have traded as low as $17.57 and as high as $24.15. On average, 348538 shares of NSANY exchange hands on a given day and today's volume is recorded at 112374.

TOYOTA MOTOR CORPORATION is a Japan-based company mainly engaged in the automobile business and financial business. Shares of TM fell by 0.44% or $-0.55/share to $125.50. In the past year, the shares have traded as low as $83.80 and as high as $134.94. On average, 347228 shares of TM exchange hands on a given day and today's volume is recorded at 269321.



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