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Kobe Steel faces investors' ire after data fabrication scandal surfaces

Kobe Steel said about 4% of the aluminium and copper products that it shipped from Sept 2016 to Aug 2017 were falsely labelled

Reuters  |  Tokyo 

Investors looked set to bail out of Kobe Steel Ltd on Tuesday, after Japan's third-biggest steelmaker revealed it had fabricated data to show its products met customer specifications in the latest scandal to rock corporate Japan. Kobe Steel said on Sunday that about 4 per cent of the aluminium and copper products that it shipped from September 2016 to August 2017 were falsely labelled as meeting the specifications requested by customers. The misconduct involved dozens of staff and possibly stretched back 10 years, the company said. The admission from the steel and ...

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First Published: Tue, October 10 2017. 11:41 IST
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