According to two people with knowledge of the situation, who asked not to be identified because the information is not public yet, Toyota Motor Corp. has reached a settlement to put an end to a criminal probe related to false or incomplete disclosures of safety issues in the U.S. Both the Manhattan offices of the Federal Bureau of Investigation and the U.S. Attorney headed the investigation, which attracted national attention in 2009.
The settlement is estimated to about 1.2 billion dollars and is expected to be officially announced by the Justice Department later on Wednesday.
One of the analysts working for the auto researcher Kelley Blue Book – Mr. Karl Brauer said in a telephone interview that was cited by Bloomberg: “Its a big number to pay and yet Toyotas also a company that can most easily digest that kind of a number and move forward.”
The settlement, if actually reached, will put an end to a four-year investigation that is said to be finalized with one of the biggest fines the auto manufacturer ever got. The investigation put a stain on Toyota Motor Corp.s name, which seriously affected its attempt to become the best selling car manufacturer in the world. The settlement would also help the company improve its positions on the market.
Julie Hamp, who is a spokeswoman of Toyota, said in a statement, which was cited by the Wall Street Journal: “Toyota has cooperated with the U.S. attorneys office in this matter for more than four years. During that time, we have made fundamental changes to become a more responsive and customer-focused organization, and we are committed to continued improvements.”
Ms. Jerika Richardson, who is a spokeswoman of the Manhattan Attorney Preet Bharara refused to make any comments on the rumours whether such a settlement has been reached. The spokeswoman of the Federal Bureau of Investigation in New York – Kelly Langmesser also declined to comment the situation.
Toyota Motor Corp. settled on Wednesday at 5 508 yen, down 0.76%, marking a one-year change of +11.50%. The worlds largest auto manufacturer is valued at 19.14 trillion yen. According to the Financial Times, the 23 analysts offering 12-month price targets for Toyota Motor Corp. have a median target of 8 000 yen, with a high estimate of 9 600 yen and a low estimate of 6 200 yen. The median estimate represents a 44.14% increase from the previous close of 5 550 yen.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
