Prison Sentence for Price Fixing for a Former Toyoda Gosei Executive

Agreeing to plead guilty to a conspiracy charge Makoto Horie former senior vice president of sales for Toyoda Gosei will serve time in prison for his part in fixing the prices of automotive hoses sold to Toyota. According to U.S. Justice Department’s antitrust division, Mr. Horie will pay a fine of $20,000 and serve one year and one day in prison.