Japan's Kobe Steel under fire for fudging data on metals
Japan's Kobe Steel under fire for fudging data on metals
|By Yuka Obayashi
12 October, 2017, 10:08
Aluminum castings, forgings and flat-rolled items, along with copper strips and tubes were among the products affected, the company said in a statement.
Japan's Kobe Steel Ltd 5406.T plunged deeper into crisis on Wednesday as fresh revelations showed data fabrication at the steelmaker was more widespread than initially thought, heightening a safety scare along the global supply chain.
Attorney Advertising - Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Kobe Steel, Ltd. ("Kobe" or the "Company") (OTC: KBSTY).
"I deeply apologize for causing concern to many people, including all users and consumers", Kobe Steel Chief Executive Officer Hiroya Kawasaki said at a meeting with a senior official from the Ministry of Economy, Trade and Industry on Thursday.
Concern has spread across a range of industries - including vehicle, train and aircraft manufacturers - that source materials from Kobe Steel.
Figures were systematically fabricated at all four of Kobe Steel's local aluminum plants, with the practice dating back as long as 10 years for some products, the company said Sunday.
Toshiba is still working to recover from an accounting scandal that began in 2015.
"The scandal looks similar to that of Toyo Tire, and not as massive (or) devastating as Takata's".
If you purchased or otherwise acquired Kobe Steel ADRs and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form.
Auto giant Toyota has already said Kobe Steel supplied materials to one of its Japanese factories, which used them in hoods, rear doors and surrounding areas of certain vehicles.
The data tampering at its aluminum unit could also hit plans to expand the business as carmakers increasingly turn to the material, which is lighter than steel, to meet tighter environmental rules. Kobe Steel customers from Toyota Motor Corp.to Subaru Corp. are scrambling to determine if they used the suspect materials and whether safety has been compromised. "Data in inspection certificates had been improperly rewritten etc., and the products were shipped as having met the specifications concerned". They were produced by Kobe Steel over the past five years, he said. The government has urged Kobe Steel to clarify the extent of the misconduct.
Iron ore powder is mainly used in making automobile components, according to Kobe Steel. Kobe's steel business would fetch roughly 200 billion yen (US$1.78 billion), he said.
He also admitted to sending materials through the mail and traveling from Canada to the United States as part of the plot. All three men were charged with seven terror-related counts, including conspiracy to use a weapon of mass destruction.
The blue slip is a tradition in which U.S. senators can give or withhold their blessing for a judicial nominee from their state. McConnell and others complain Democrats are abusing the practice by not returning the blue slips to bottle up the nominees.
After $0.57 actual EPS reported by SEI Investments Company for the previous quarter, Wall Street now forecasts 0.00% EPS growth. It is positive, as 56 investors sold MRK shares while 612 reduced holdings. 111 funds opened positions while 603 raised stakes.
The new installment will feature both a hefty season pass and smaller add-on content packs, most of which will be free of charge. The game will be playable on Xbox One, Xbox One X, PlayStation 4, PlayStation 4 Pro and Windows PC.
Most of the job reduction (i.e. 1,400 roles) will occur in BAE Systems' Military Air business over the next three years. Around 375 job losses are planned for the maritime servicing and support business, with 340 in Portsmouth.
It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment. There are advantages to using a moving average in your trading, as well options on what type of moving average to use.
There's no major changes to the structure of the map, which I supposed is to be expected, but there are some important tweaks. Additionally, the bomb site itself is no longer on a raised surface, but instead on the same level as the rest of the area.
Real Madrid manager Zinedine Zidane refused to sell the 28-year-old but he may change his mind as the season progresses. The Wales star is now out with a calf problem that saw him miss his country's crucial World Cup qualifiers this week.
PM launched the DISHA portal that aims at coordination and monitoring of development works at the district level. It includes information on rural development at the Panchayat level in regional languages.
Molalla woman and her four young children were killed Sunday in head-on collision with oncoming vehicle on Hwy. Her children included an eight-year-old boy, a six-year-old boy, a four-year-old girl and a two-year-old girl.
Fabricio Werdum steps in for Mark Hunt at UFC Sydney
The interview has been taken out of context and want to reassure all my fans, I slur my words only when I have a drink. To add insult to injury, Hunt has been replaced by Brazilian former heavyweight world champion, Fabricio Wedrum.
Petroleum dealers strike on October13
S Ramesh, BPCL director (marketing), said even if there was a strike this Friday, it will not be "total". Petrol pump owners have withdrawn their strike after tough stance taken by oil marketers.
Ghana Vs India: Tahitian Referee Zitouni To officiate clash
Infact the Luis Norton de Matos' side had quite a few chances to score before the eventual equaliser arrived in the 82nd minute. However, India had bad news as skipper Amarjit Singh and centre-back Anwar Ali missed practice due to injuries.
Pizza Hut's hot new delivery box
Anyone who orders online between now and the end of the month, will automatically be entered to win a Pizza Parka. Fans also can tweet the pizza slice and flame emoji to @PizzaHut to enter to win.
Andrew Wiggins' contract extension details revealed
Wiggins and the Wolves have been expected to agree to terms on this deal for quite some time, and now it's official. There are rules in place that protect agents and Duffy hinted at agent tampering right after being let go.
Legends of Tomorrow Losing Fan-Favorite Actor
According to the report, The CW has made a carefully planned exit for Victor Garber on DC's Legends of Tomorrow . That schedule is not conducive to shooting a television program on the other side of the continent.