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Thursday, Sep 262:43 PMAuto parts makers to plead guilty to U.S. price-fixing
Thursday, Sep 262:43 PM| 9 Comments
- Nine companies based in Japan and two executives agree to plead guilty and to pay a combined $740M in fines for their roles in conspiracies to fix the prices of auto parts sold to U.S. car manufacturers, the Department of Justice says.
- The DoJ says price-fixed automobile parts were sold to GM, Ford (F) and Chrysler (FIATY.PK), as well as to U.S. subsidiaries of Honda (HMC), Mazda (MZDAF.PK, MZDAY.PK), Mitsubishi (MMTOF.PK), Nissan (NSANY.OB), Toyota (TM) and Subaru (FUJHY.PK, FUJHF.PK).
- Among the parts affected by the conspiracies were seat belts, radiators, windshield wipers, air conditioning systems, power window motors and power steering components.
Wednesday, Jul 1712:24 PMJapanese automakers look good to Mark Kingdon, presenting at Delivering Alpha. They trade at 8-10x earnings and he thinks the multiple should be 13. HIs top picks are Toyota (TM), Mazda (MZDAF.PK, MZDAY.PK), and Fuji Heavy/Subaru (FUJHY.PK). He's also on the Aegerion Pharmaceuticals (AEGR +2.6%) train thanks to its Juxtapid drug for high cholesterol. |Wednesday, Jul 1712:24 PM| Comment!
Thursday, Feb 143:48 AMToyota (TM) sweeps J.D. Power's 2013 vehicle dependability study, with its Lexus brand snagging top spot, followed by GM (GM), Honda (HMC), Mazda (MZDAY.PK, MZDAF.PK) and Ford (F). Volkswagen (VLKAY.PK, VLKAF.PK) did not fare well, with 174 reported problems per 100 vehicles. |Thursday, Feb 143:48 AM| 5 Comments
Monday, Dec 32012, 7:08 AMJapanese automakers continue to struggle in China as a hangover effect from a territorial dispute dampens the enthusiasm of buyers to buy models emanating from Japan. For the month of November, Toyota (TM) saw sales fall 22% in China, while Mazda (MZDAF.PK) dropped off 29%. Honda will release China vehicle sales totals later. |Monday, Dec 32012, 7:08 AM| 1 Comment
Friday, Nov 302012, 8:23 AMA thee-way joint venture between Ford (F), Mazda (MZDAF.PK), and Changan Automobile receives approval from Chinese authorities to split into two entities. Chinese partner Changan will be in the first venture with Ford and in a second with Mazda. The reason for the move is to give Ford and Mazda more breathing room to increase their individual presence in the nation. |Friday, Nov 302012, 8:23 AM| 1 Comment
Wednesday, Nov 212012, 8:24 AMFord (F), Mazda (MZDAF.PK, MZDAY.PK) and their Chinese partner agree to invest an additional $37M in their engine plant venture, following surging sales of Ford cars in China. Ford's Focus model has been selling so well that workers at its Chongqing car plant in southwest China have added shifts to keep up with demand. |Wednesday, Nov 212012, 8:24 AM| 2 Comments
Friday, Oct 52012, 6:25 AMThe Senkaku-Diaoyu islands dispute between Japan and China hit Japanese car makers hard in September, with Mitsubishi's Chinese sales plunging 63% Y/Y and those of Mazda by 35%. Toyota's (TM) sales skidded 40%, the FT reports, adding that the company will cut production in China by over half and suspend Lexus exports. Non-Japanese car makers have been benefiting from the spat. |Friday, Oct 52012, 6:25 AM| 1 Comment
Monday, Aug 272012, 6:01 AMFord (F) breaks ground on a factory in Chongqing in southwest China, where it plans to start making its 2-liter EcoBoost turbocharged engine. Although the country's market is cooling, Ford - and other car makers - see "a tremendous growth opportunity in the middle and the west." Meanwhile, the Chinese government has approved the break up of Ford's JV with Mazda and Chongqing Changan Automobile. |Monday, Aug 272012, 6:01 AM| Comment!
Tuesday, May 292012, 1:02 PMFiat (FIATY.PK) CEO John Elkann says the company doesn't have any plans to buy into Mazda (MZDAF.PK), but will move forward with the initiative to ups its stake in Chrysler to over 60% from its current level of 58.5% and could link up with an Asian partner. Last week, Fiat and Mazda announced that they will make new models together. |Tuesday, May 292012, 1:02 PM| Comment!
Wednesday, May 232012, 6:47 AMMazda (MZDAF.PK) and Fiat (FIATY.PK) join forces for the first time with plans to develop a lightweight sports car and explore strategic opportunities in Europe. The linkup between the two automakers leaves Ford (F) with one less partner as a longstanding relationship with Mazda peters out. |Wednesday, May 232012, 6:47 AM| 1 Comment
Thursday, Apr 52012, 10:17 AMFord (F +0.3%) confirms a $600M investment in its Chongqing plant in China, with the firm making the investment along with JV partners Changan Automobile and Mazda (MZDAF.PK). The plan is to raise annual output by over 50% to 950K units - above expectations of 770K - as Ford looks to boost global sales by almost half to 8M cars a year by 2015. |Thursday, Apr 52012, 10:17 AM| 3 Comments
Wednesday, Mar 72012, 7:05 PM
Thursday, Feb 162012, 7:05 PMJapanese shares shoot 2% higher right out of the gate this morning, with the Nikkei Average rising to 9,424 in the first five minutes of trading. Strong U.S. economic data and stock gains overnight help boost Japanese exporters: Toyota (TM +2%), Nissan(NSANY.PK +3%), Mazda (MZDAF.PK +5.6%), Sony (SNE +3%), Panasonic (PC +3%), and Advantest(ATE +3%). |Thursday, Feb 162012, 7:05 PM| 1 Comment
Tuesday, Jan 242012, 7:44 PM
Wednesday, Jan 182012, 7:37 PMJapanese stocks move higher in early trading buoyed by gains in U.S. markets overnight. The Nikkei Average is currently up 0.8% with technology and export shares leading: Sharp (SCPAY.PK +2.2%), Advantest (ATE +3.5%), Mazda (MZDAF.PK +2.4%) and Panasonic (PC +1.1%). |Wednesday, Jan 182012, 7:37 PM| Comment!
Monday, Nov 72011, 7:37 PMJapanese stocks begin the day lower, despite gains on other Asian bourses and in the U.S. overnight. The Nikkei Average is currently -0.2% to 8,749, with auto-makers and technology shares the leading decliners: Nissan (NSANY.PK -1%), Mazda (MZDAF.PK -1.32%), Honda (HMC -0.5%), Toyota (TM -0.7%), Advantest (ATE -1.5%) and Toshiba (TOSYY.PK -1.1%). |Monday, Nov 72011, 7:37 PM| 1 Comment
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