Supplier Shipped Substandard Metals Across Japanese Automotive Industry For Almost A Decade
11 October, 2017, 00:24 | Author: Terri Saunders
Japan'sNikkei share average moved closer to a 21-year high on Tuesday after a three-day weekend as expectations for continued strength in the USA economy supported sentiment, but Kobe Steel's shares plunged when it said it had fabricated data.
- Kawasaki Heavy Industries said many of its products use aluminum and it is now checking which ones used the material. The false data has been linked back to four aluminium factories in Japan, and for some items, the practice goes back almost 10 years, the executive vice president, Naoto Umehara confirmed. However Kawasaki said there haven't been any reports of safety issues. Nissan Motor and Mitsubishi are also top customers of Kobe Steel and said they are checking whether their vehicles are affected.
"We are rapidly working to identify which vehicle models might be subject to this situation and what components were used", Toyota spokesman Takashi Ogawa said.
The company claimed it was unclear what impact the scandal would have on its business performance, but would make a further announcement once the extent became clearer.
In a new corporate scandal rocking Japan, Tokyo-based Kobe Steel admitted that it's been faking data on some of its metal - specifically copper and aluminum. Materials were also used in East Japan Railway Co., Central Japan Railway Co. bullet trains in Japan, he said, adding that the trains were inspected after completion and there was no problems with their strength.
Heavy machinery maker IHI Corp said affected products were used in its jet engines.
MHI said Kobe Steel products were used on its Mitsubishi Regional Jet and rockets, including a H-2A rocket launched on Tuesday to put a navigation satellite into orbit. The misconduct involved dozens of staff and possibly stretched back 10 years, the company said. Kobe Steel's aluminum and copper operations account for about 20 percent of total sales, according to data for the quarter ended June 30.
"These are improper actions that could shake the foundation of fair trade", Yasuji Komiyama, director of the industry ministry's metal industries division, told reporters at a briefing on the revelations.
"Aluminium is a strategic business for Kobe Steel", said Irisawa at Tachibana Securities. "We urge the company to make efforts to recover the trust of society as a whole, not just its customers".
And this isn't the only scandal that's been coming out of Japan as of late.
The falsification was meant to make the metals look as though they met client quality standards.
It was not clear whether it would affect the safety of their products.
Toyo Tire & Rubber officials were referred to prosecutors in March following the company's 2015 admission that it had falsified data on rubber for earthquake-proofing buildings.
Kobe Steel has said the impact of the data falsification on its earnings is still unknown.
The feature will first roll out to Snapchat users in the United States, Canada, the United Kingdom, Australia and New Zealand. We've also integrated Stories into Context Cards, making it easy to see more Snaps from the places that interest you.
Based on the Hasbro toys and TV series, the movie's voice cast includes Emily Blunt , Kristin Chenoweth, Uzo Aduba, and Sia. This feature-length animated film made its entry to the fourth place at the box office with $ 8.9 million.
She is enjoying an 11-match winning streak, having captured her first title of the season at Wuhan last week. "It went so fast". The 15th-ranked Garcia, who lost to Halep the two previous times they played, won her second consecutive WTA title.
Although Kim made the comments Saturday they were reported hours after Trump's "only one thing will work" tweet. Not stopping there, Donald Trump made a cryptic remark that appeared to hint at a potential military strike.
The Court had, therefore, revoked the suspension of valid permanent licences to possess and sell fireworks in Delhi and NCR. The Bench noted that there was direct evidence of deterioration of air quality at alarming levels during Diwali every year.
On Sept. 5, however, she broke out, swam across a lake, and started running when she got to the other side. The man who came to the assistance of a kidnapped Alexandria teenager has turned down the reward money.
Symmetra is going for a more devilish look which looks to be inspired by Middle Eastern legends of the devils known as the Jinn. It is very likely that some of the skins from last year's edition of Halloween Terror will make a comeback this year.
Known for her commitment to the pro-life movement, Congresswoman Blackburn reveals in the banned video, "I'm 100% pro-life. Marsha Blackburn's (Tenn.) Senate campaign announcement ad, ruling that a pro-life statement was "inflammatory".
Luke Bladen Williams Hamilton said he tried to establish there was "no sign of life", but soon realised the woman was dead. At 7.20pm, the man was "pounced on" and "grabbed" by members of the NSW Police Rescue Squad and taken into custody.
Paddock reportedly requested a room with a view, but never showed up for his reservation, according to TMZ sources. Media outlets also reported Thursday that Paddock may have scouted sites in Boston as well.
Home escape plan is focus of Fire Prevention Week
Smoke inhalation hurts more people during a fire than actual flames do, and you'll breath less toxic air if you stay low. CT public safety officials are urging residents to create and practice a home escape plan in the event of a fire.