Toyota Motor Corp. said on Thursday that it alerted the U.S. Department of Justice and the Securities and Exchange Commission to possible antibribery violations involving a subsidiary in Thailand.
The Japanese car manufacturer disclosed the corruption concerns to the Justice Department and SEC in April 2020, according to a securities filing released on Thursday.
The company said it was cooperating with investigations by the Justice Department and the SEC into the matter.
The two agencies enforce the Foreign Corrupt Practices Act, a law that prohibits companies from paying bribes to foreign public officials.
“Toyota works tirelessly to uphold the highest professional and ethical standards in each country where we operate,” a company spokesman said in a statement. “We take any allegations of wrongdoing seriously and are committed to ensuring that our business practices comply with all appropriate government regulations.”
In its filing, Toyota said it couldn’t predict the scope, duration or outcome of the investigations.
The disclosure comes as Toyota and other auto companies struggle with supply chain difficulties amid the continuing Covid-19 pandemic.
On Wednesday, Toyota said a shortage of petrochemicals had caused it to halt production at its factory in Kentucky. – Wall Street Journal
