Japan's star auto parts supplier NSK got slapped with a $28.2 million (USD) fine by Chinese anti-monopoly regulators. The hefty sum comes as part of an ongoing anti-monopoly investigation.

While cooperating with authorities, NSK declined to expound upon the matter further. One of the world's leading manufacturers of rolling bearings, automotive products, precision machinery and parts, and mechatronics products, NSK has factories throughout China and the world.

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NSK is one of several firms being probed: Lexus, a unit of Japanese-owned Toyota, Volkswagen AG's Audi luxury unit, and Fiat Chrysler Automobile NV's Chrysler also found themselves under scrutiny. Chinese officials on Monday told reporters that Germany's Mercedes Benz was guilty of "vertical price-fixing." The company, a unit of Daimler AG, used its control over supplies of replacement parts to raise prices, investigators said. 

After passing anti-monopoly legislation six years ago, China has been strident in pursuing offenders. It is thought the sweep is part of a bid to keep prices low. Charges of excessive pricing have dogged several firms operating in the country.

At the time of the law's passing, the business world responded favorably. Keeping prices low has been a key component of China's runaway economy, and Beijing is wary of price increases that could depress growth. In the years since, however, claims Chinese officials are focusing primarily on foreign-owned producers and companies are mounting. Last year, US-based computer software firms Microsoft and Qualcomm were also subjects of investigation.

Luxury and high-end companies are not the only targets; Chinese authorities hit six foreign dairies, including one in Hong Kong, with fines totalling $108 million on charges of price fixing.

"We express our sincere regret for the concern this matter has caused our shareholders, customers and other stakeholders," NSK said of this latest fine. "NSK and its subsidiaries regard the situation with the utmost seriousness."

NSK confirmed it would comply with Chinese authorities and pay the amount.

TagsNSK, Fine, monopoly, anti-monopoly investigation