Japan's Kobe Steel under fire for fudging data on metals

Japan's Kobe Steel under fire for fudging data on metals

While there has not been any reports that Kobe Steel products posed safety risks, the company is likely to face lawsuits from investors, customers, consumers and regulators in Japan and USA, experts say. Turkish consumers, who read scandal, said that this could be cause of long-time immigrants in ir vehicles, and that victimization of ir lives could be revealed in this way more clearly.

Kobe Steel Ltd. parts used in Japan's iconic bullet trains failed industry standards, officials said Thursday, bringing to light fresh evidence of wrongdoing by the steelmaker as investors speculated that the crisis could trigger a breakup of the 100-year-old company.

Earlier the company said that in the year up to August 31 it had sold materials such as aluminum flat-rolled products, aluminum extrusions, copper strips, copper tubes and aluminum castings and forgings using falsified data on such things as the products' strength.

GM joins automakers including Toyota Motor Corp and as many as 200 other companies that have received parts sourced from Kobe Steel as the scandal reverberates through global supply chains.

"We have confirmed that aluminium from Kobe Steel is used in the hoods and doors of some of our vehicles", Nissan said in an email.

Honda spokesman Tamon Kusakabe told AFP: "As to safety, we are still studying (a possible) impact". Deputy Chief Cabinet Secretary Kotaro Nogami on Wednesday said the faked data undermined the basis of fair trade, calling it "inappropriate".

However, it declined comment on a media report that materials used in semiconductors were also impacted by the scandal. The changes, it said, made it look as if the products met manufacturing specifications required by customers - including for vital qualities like tensile strength, a measure of stiffness - when they did not.

"Verification and inspection to date have not recognized specific problems casting doubts on the safety of the nonconforming products", it said. "We won't know if we need to take any action until those investigations are complete", a spokesperson said. It was not clear whether the scandal affected the safety of their products.

Related Articles

  • Delve into today's share market: Bank of America Corporation (NYSE: BAC)

    Delve into today's share market: Bank of America Corporation (NYSE: BAC)

    Currently, 185.07 million total shares are owned by the public and among those 184.33 million shares have been available to trade. Credit Suisse Group reaffirmed an "outperform" rating on shares of Bank of America Corporation in a research report on Tuesday.
    Girls allowed to join Boy Scout programs

    Girls allowed to join Boy Scout programs

    Maguire has a 14 year-old daughter who has been involved in Boys Scouts any way she could be from the age of four. Meanwhile, the Girl Scouts of America responded by issuing a statement reiterating their commitment to girls only.
    Trump urged to uphold Iran nuclear deal

    Trump urged to uphold Iran nuclear deal

    It gave Iran sanctions relief in exchange for curbs on its nuclear program in a bid to prevent it from developing nuclear weapons. Trump is expected to decline this week to certify Iran's compliance in the 2015 agreement, referring it to Congress.
  • Taylor Twellman Is Really Angry USA Missed The 2018 World Cup

    Taylor Twellman Is Really Angry USA Missed The 2018 World Cup

    National Team stopped short of offering any changes and even insisted that 'there's nothing wrong with what we're doing'. A decrease in interest would also affect FIFA's top World Cup partners, including Visa Inc. and Coca-Cola Co.
    Sky takeover probe to focus on media plurality, broadcasting standards

    Sky takeover probe to focus on media plurality, broadcasting standards

    Anyone wanting to provide submissions is invited to do so based on the areas and questions outlined in the issues statement . Part of that decision had been expected, but the broadcasting standards review came as something of a surprise.

    Analysts See $1.60 EPS for SL Green Realty Corp (SLG)

    Looking at some alternate time periods, the 12 month price index is 0.94972, the 24 month is 1.28763, and the 36 month is 1.50847. As of the end of the quarter Quadrant Capital Group LLC had sold a total of 8 shares trimming its position 18.2%.
  • Analysts See $0.71 EPS for Pilgrim's Pride Corporation (PPC)

    Therefore 92% are positive. 10/31/2014 - Pilgrim's Pride Corporation was upgraded to "overweight" by analysts at Stephens. BMO Capital Markets downgraded Pilgrim's Pride Corporation (NASDAQ:PPC) on Monday, June 6 to "Market Perform" rating.
    Kyrie Irving says that unlike Cleveland, Boston is a

    Kyrie Irving says that unlike Cleveland, Boston is a "real" sports city

    That has been there for awhile. "I left one incredible legacy (in Cleveland), and now I moved to Boston". The teams face off in London on January 11, 2018, for the eighth regular-season game in the capital.

    Interpublic Group Of Companies, Inc. (The) (NYSE:IPG) Under Analyst Spotlight

    At the moment, the 14-days ATR for The Interpublic Group of Companies, Inc . (The) in a research note on Friday, July 14th. For 2017, the company expects organic growth in the range of 3-4%, with a 50 bps improvement in operating margins.
  • Skyworks Solutions, Inc. (SWKS) Rating Reiterated by Mizuho

    Skyworks Solutions, Inc. (SWKS) Rating Reiterated by Mizuho

    Tigress Financial reissued a "strong-buy" rating on shares of Skyworks Solutions in a research report on Tuesday, January 24th. In the most updated research from a number of analysts on Wall Street, the company gets 22 Buys and 1 Sell among 28 analysts.
    Barracuda Networks, Inc. (NYSE:CUDA) Shares on the Go mid-Session

    Barracuda Networks, Inc. (NYSE:CUDA) Shares on the Go mid-Session

    As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Barracuda Networks, Inc . The average Wall Street analyst rating for Barracuda Networks, Inc .is Strong Buy, according to the average of 16 analyst scores.

    Nordea Investment Management AB Lowers Position in Cheniere Energy, Inc. (LNG)

    Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas ( LNG )-related businesses. It dived, as 53 investors sold FDX shares while 373 reduced holdings. 48 funds opened positions while 125 raised stakes.