KIYOSU CITY, Japan—The European Commission has fined Japanese automotive parts maker Toyoda Gosei Co. for an infringement of EU competition law in its past sales of automotive airbags.
The Kiyosu City-based company said it had fully cooperated with the EC throughout the investigations and reached a settlement with the Commission, resulting in a fine of about $13.4 million.
The Japanese supplier said in a Nov. 23 statement that it had developed "an effective compliance system" and, going forward, it would continue to apply measures to prevent the recurrence of similar violations.
The measures include implementing compliance rules and training employees to comply with competition laws, Toyoda Gosei said.