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As data scandal widens, Japan's Kobe Steel faces key debt test

Kobe has nearly $3.3 billion cash in hand, investments in short-term securities and unused credit lines from banks

Reuters  |  Hong Kong 

As Kobe Steel Ltd becomes increasingly embroiled in a data falsification scandal, concerns are growing about its outstanding liabilities despite the Japanese company's sizable cash reserves. Japan's third-biggest steelmaker, which posted losses in the last two years, admitted this month it falsified specifications on the strength and durability of aluminium, copper and steel products, along with materials for optical disks. The falsifications stretch back for more than 10 years, and the company last week said it had lost some customers to competitors because of the ...

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First Published: Mon, October 23 2017. 17:41 IST