Denso to Pay 25 M. Canadian Dlrs to Settle Antitrust Suits

Society Economy Politics

Nagoya, Dec. 10 (Jiji Press)--Japanese auto parts maker Denso Corp. <6902> has agreed to pay 25.16 million Canadian dollars to settle antitrust lawsuits in Canada.

The settlement will become final after court procedures are completed, Denso said Monday.

The plaintiffs had claimed that they incurred damages as a result of Denso's alleged violations of the Canadian competition law over auto parts.

Denso, an affiliate of major Japanese automaker Toyota Motor Corp. <7203>, said the settlement will not have any significant impact on its consolidated earnings forecasts for the fiscal year to March 2020 as the settlement money has already been booked as part of reserves.

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