Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) pleaded guilty on Monday in the Federal Court to criminal cartel conduct in relation to the transport of vehicles into Australia.

The charges, brought last Thursday by the Australian Competition and Consumer Commission (ACCC), could lead to a fine of at least $10 million.

The charges could lead to a fine of at least $10 million.

"This matter relates to alleged cartel conduct in connection with the transportation of vehicles, including cars, trucks, and buses, to Australia between July 2009 and September 2012," ACCC chairman Rod Sims said in a statement. The company had pleaded guilty, the statement said.

It was the first criminal charge laid against a corporation under the Competition and Consumer Act, Mr Sims said, following a law change in 2009 that made cartel conduct a criminal act.