Koyo cooperated fully with the ACCC and admitted to the conduct

'The ACCC alleges that in 2008 and 2009, Koyo and at least two of its competitors made and gave effect to two separate cartel arrangements for an increase to the price of bearings to their aftermarket customers.' (ACCC press release)

Penalties of $2m were awarded by consent.

The ACCC’s action followed enforcement action against Japanese bearing manufacturers by the Japan Fair Trade Commission.

ACCC, 'ACCC takes action against Koyo for alleged cartel conduct' (15 July 2013)

ACCC, '$2 million penalty for bearings cartel' (18 October 2013)

Click here for full case from AustLII