Kobe says 500 firms affected in steel scandal

From BBC - October 13, 2017

Japan's Kobe Steel has increased the number of firms it says have been affected by its data fabrication scandal from 200 to 500.

It also said it had found "inappropriate actions" relating to nine more products, including falsifying data.

Earlier this week, Kobe admitted falsifying quality data on some of its products for up to a decade.

The news has wiped out about $1.8bn off Kobe Steel's market value this week.

More than 30 non-Japanese customers, including Daimler and Airbus, have been affected by the firm's data fabrication, Japan's Nikkei newspaper reported on Friday.

Airbus said it did not buy products directly from Kobe Steel, but that it was investigating its supply chain.

"So far we have not identified any suppliers that procure materials from Kobe Steel for parts fitted on our aircraft," a spokesman said.

Widening scandal


Continue reading at BBC »