TYHOF - Toyota Subsidiary Violated Japan's Law Protecting Subcontractors: Report | Benzinga
The Japan Fair Trade Commission (FTC) reportedly found that Toyota Motor Corp’s (NYSE:TM) subsidiary, Toyota Customizing & Development Co. (TCD), based in Yokohama, failed to compensate suppliers for storage fees of metal die casts and other items.
TCD violated the law by not paying storage fees to dozens of suppliers and forcing 65 suppliers to accept returns on products deemed defective without proper inspection, reported Bloomberg.
The total cost for these actions was around ¥54 million ($336,100). TCD reimbursed the suppliers last month and agreed to cover storage costs.
The Japanese government aims to ensure fair treatment of suppliers ...