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BRIEF-TOYOTA to take $1.2 bln charge for DOJ settlement in year ending March 31
March 19, 2014 / 1:50 PM / 4 years ago

BRIEF-TOYOTA to take $1.2 bln charge for DOJ settlement in year ending March 31

DETROIT, March 19 (Reuters) - Toyota Motor Corp : * Says as part of its settlement with Department of Justice relating to

unintended acceleration cases ”we took full responsibility for any concerns

our actions may have caused customers“ * Says has made ”fundamental changes“ across operations to be more responsive * Says has taken steps to ”enhance quality control, respond more quickly to

customer concerns, strangehten regional autonomy and speed decision making” * Says it stands by the safety and quality of its vehicles * Says under agreement with Department of Justice, government agreed to defer

prosecution and then dismiss case if company meets requirements * Says requirements include paying the settlement, abiding by terms of the

deal, and continuing to cooperate with the government * Says deal also provides for independent monitor to review policies and

procedures relating to Toyota’s safety communications process and its process

for internally sharing accident information * Says will record $1.2 billion after-tax charges against earnings in the

fiscal year ending March 31, 2014 for the settlement

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