JTEKT

JTEKT manufactures bearings and steering parts. Bearings are the components that let a wheel, a gearbox, or an engine shaft turn. Carmakers and their suppliers buy them in high volume. The company grew out of the Japanese Koyo bearings business and still sells into the world's car factories.

The European Commission found that bearing makers coordinated prices quoted to automotive customers, including the way steel-cost changes were passed through. JTEKT is a fined party in that library file, with European and other Japanese bearing makers. The coordination covered bearings destined for cars built in Europe.

The library status is fined. This profile does not state JTEKT's fine or the decision total. The company's steering business is real and is not the product the cartel decision describes. The cartel product is bearings.

A car contains many bearings, so a coordinated bearing price is inside the vehicle cost.

Quotes to carmakers, and surcharges tied to steel, were the figures the suppliers aligned.

The bearings decision records a fine, and this account leaves each supplier's euro figure aside.

Car manufacturers and parts makers paid the bearing invoices.

Drivers buy the finished car, which is where a component overcharge can end up.