TOKYO (May 11) — The Japan Fair Trade Commission searched the Tokyo headquarters office of Yokohama Rubber Co. Ltd. in connection with an investigation into possible bid rigging and price fixing in rubber marine hose, the company said in a statement.
Offices at Yokohama´s factory in Hiratsuka, Japan, also were searched, according to the statement.
Yokohama declined comment on the ongoing investigation, but said it was cooperating fully with authorities.
Eight executives from international marine hose manufacturers were the subject of criminal complaints before federal district courts in Miami and Fort Lauderdale, Fla., alleging that they conspired to rig bids for marine hose contracts and fix prices for the product. Yokohama was not named in those complaints.