Toyota plans to pay U.S. fine – media

TOKYO, April 17 (BestGrowthStock) – Toyota Motor Corp (7203.T: ) was
planning to pay a proposed $16.4 million fine from U.S.
regulators without admitting wrongdoing as the automaker seeks
to repair its reputation after massive recalls, Japanese media
reported on Saturday.

U.S. safety regulators alleged earlier this month that
Toyota knowingly hid information from regulators and violated
regulations by delaying a recall in January for gas pedals that
would not spring back as designed. [ID:nN05171071]

Toyota was in talks with U.S. authorities and intended to
pay the fine ahead of Monday’s appeal deadline, Jiji news
agency said. But there was still a possibility it would appeal
if regulators did not approve the company’s plan of not
admitting the allegations, it said.

Toyota’s decision to agree to the fine came out of a fear
that its refusal could draw ire from the U.S. government and
Congress, hurting its efforts to rebuild its brand, Jiji said.

A Toyota spokeswoman Mieko Iwasaki said no decision had yet
been made.

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(Reporting by Taiga Uranaka and Chang-Ran Kim )

Toyota plans to pay U.S. fine – media