Denso Corp. and Yazaki Corp., two Japanese suppliers of auto parts, agreed to plead guilty and pay a total of $548 million in criminal fines for their role in a price-fixing and bid-rigging conspiracy.
Companies including Sony Corp. and Toyota Motor Corp. halted output at plants after an 8.9- magnitude earthquake struck off the coast of Japan, damaging production facilities and causing power outages.
The Renault SA -Nissan Motor Co. alliance plans to increase production in South Korea to cut its reliance on Japan as a manufacturing base as the yen strengthens, Chief Executive Officer Carlos Ghosn said.
Nissan Motor Co. ’s output in China was disrupted by a strike and a Toyota Motor Corp. plant was closed for a third day as labor unrest spread to at least eight car parts factories in the world’s largest auto market .
Rubber futures tumbled to the lowest level in more than four months after the worst earthquake on record in Japan caused power-supply disruptions, forcing carmakers to halt production, raising concern demand may slump.
Toyota Motor Corp. and Honda Motor Co. suppliers sacrificed earnings in China by raising wages to end strikes, and the government’s decision to allow greater exchange-rate flexibility may slow plans to export vehicles from the nation as the currency appreciates.