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Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

First production HondaJet nearly completed

We may mention Honda around here mostly for its cars, but the Japanese industrial giant makes a whole lot more than that. The company builds motorcycles, ATVs, marine engines, power equipment and - soon enough - jet airplanes.
Honda has been working on its first private jet since before 2006, and after a good eight years or so of prototype testing, began building its first production version a bit over a year ago. And now it's almost ready for delivery.
The first production HondaJet is nearing completion and has had its GE Honda HF120 jet engines installed, after which it will conduct initial ground tests before taking its first flight this summer. The jet is painted in a new shade of pearl green with a gold stripe, added to the color catalog alongside the silver, red, yellow and blue options.

McLaren MP4-30 marks Honda's hotly anticipated F1 return

McLaren's Formula One fortunes have drastically dropped in performance over the past couple of seasons. The Formula One team with a dozen Drivers' Championships, eight Constructors' Titles and 182 grand prix victories to its name hasn't won a race since 2012, and finished the past two seasons down in fifth place. But now it begins a new era – or rather, restarts one. And this is the machine that's kicking it all off. After a 23-year parting of ways, McLaren has brought Honda back onto the grid for this season, and will be the only team running the Japanese automaker's brand-new RA615H turbocharged hybrid power unit. Both parties are undoubtedly hoping the rekindled partnership will bring them back to the winning days of the late Eighties when Ayrton Senna and Alain Prost memorably drove their equipment to four consecutive World Championships. Largely an evolution of last season's Mercedes-powered MP4-29, the new chassis features a new front-end design to comply with the latest adjustment to the regulations from the FIA, and also incorporates a slimmer rear end built around the new Honda engine and gearbox. It also features a revised livery that adds more black to the red and silver color scheme, and does without a title partner for the time being, but includes the logos of sponsors Mobil1, SAP, TAG Heuer, Johnnie Walker, Hilton, CNN and KPMG, as well as that of Honda. Though this season will likely be more of a transition and development year for McLaren and Honda, all eyes will surely be fixed on the team to see how the new MP4-30 will fare. Fortunately, they've lined up a compelling roster of drivers, lead by former World Champions Fernando Alonso and Jenson Button. McLAREN-HONDA BEGINS NEW ERA WITH MP4-30 #McLarenHonda #MakeHistory McLaren-Honda – the name evokes stirring memories of the past; of Ayrton Senna battling Alain Prost for supremacy; of classic red and white machines dominating for season upon season; of an iconic team writing one of the defining chapters in the motor racing history books. Reuniting such an illustrious partnership brings with it the heavy weight of expectation, but all at McLaren and Honda are working to write a fresh chapter in Formula 1, one that respectfully nods to the past, but boldly looks to the horizon. Today's reveal of the new McLaren-Honda MP4-30 – McLaren's first Honda-powered car for 23 years – speaks volumes about the progressive nature of both companies.