Supplier Shipped Substandard Metals Across Japanese Automotive Industry For Almost A Decade

11 October, 2017, 00:24 | Author: Terri Saunders

Japan's Nikkei 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.

Toyota, Nissan, Subaru, Mazda, Suzuki and Mitsubishi were also among auto companies potentially affected, as well as Kawasaki and Hitachi in other industrial uses.

- 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.

Royals give biggest grant ever to digital mental health scheme
Since Harry left the military, he has made campaigning over mental health issues and the fate of veterans two of his priorities. The investment will be used to establish a new start-up for digital mental health innovations.

"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.



Looking for an Uber? Book it through Snapchat's 'context cards'
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.

Iceland Become Smallest Nation Ever To Qualify For World Cup Finals
Iceland beat Turkey on Friday night 3-0. "The success is not an end in itself but a long journey towards a final destination". Along the way, they picked up a historic win over England in the knockout round with a 2-1 victory.

Betway: Argentina's qualification hopes hang in the balance
Uruguay need only take a point in their home qualifier against already-eliminated Bolivia to be certain of progressing. Tite's men have only bragging rights to play for, but a win would guarantee automatic qualification for Chile.

Badgers pull away in 38-17 win
After struggling to keep up with the Nebraska offense, Wisconsin held the Huskers to just 51 yards of offense during the third. Lee threw 16/32 for 262 yards and one touchdown on a route to Stanley Morgan Jr . for an 80-yard score in the second quarter.

Man on Sydney high-rise balcony above body
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.

This is what Ranveer Singh had to say after seeing Padmavati trailer
Deepika Padukone , who features in the titular role, looks to have done complete justice to her character with her regal elegance. Shot with the signature Sanjay Leela Bhansali style of storytelling, the film oozes history and intricacy.

U-17 WC INDIA 2017: Ghana lose 0-1 to USA
The match did not rise to any great heights with not many attempts at the goal with few good moves coming from both sides. The Ghanaians committed more men into attack but tried as they did, they could not equalize till the end of the game.

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.

Angelina Jolie turns real life spy by helping capture warlord
So she reportedly offered herself as a honeypot. "Forget other celebrities, she is the one", he wrote. "She is ready. Moreno Ocampo ended his term at the head of the ICC in 2012, so the plot was hatched before then.

Firework sales to be banned in Delhi for Diwali, court rules
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.