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The Japanese antitrust authority will issue a warning to a Toyota subsidiary

Posted on by darion

Tokyo, June 30 (IANS) Japan’s antitrust watchdog plans to issue a warning to a Toyota Motor Corp. subsidiary after finding that it forced subcontractors to store molds for making car parts without paying for them, local media reported on Sunday.

Toyota Customizing & Development Co., which makes auto parts, ambulances and race cars, allegedly forced about 50 suppliers to retain more than 650 molds and parts inspection devices used in its previous vehicles, even though it had no plans to place new orders, Kyodo News reported. citing a source familiar with the matter.

The report shows that the subsidiary, in which Toyota owns 90.5% of shares, admitted violating the law regarding subcontracting contracts.

The Japan Fair Trade Commission also suspects that the Toyota group company returned parts worth more than 50 million yen (about $310,000) to more than 60 suppliers without just cause, Xinhua news agency reported.

According to the report, the Commission plans to warn the subsidiary to take action to prevent the problem from recurring.

–IANS

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