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Scandals shred Japan's once-revered reputation

Shareholder value has been destroyed, consumers are angry, regulators too

Nao Sano & Kevin Buckland | Bloomberg 

Japan’s flagship companies were once held in awe as fierce competitors that revolutionised the world’s business practices with innovations like flexible manufacturing and managerial precepts such as kaizen, or continuous improvement. These days, Japan Inc is turning heads for a less exalted reason — a string of scandals that has destroyed shareholder value, enraged consumers and incurred the wrath of regulators. Kobe Steel raised fresh concern about the integrity of Japanese manufacturers after disclosing on Sunday that it falsified strength and durability data on aluminum ...

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First Published: Wed, October 11 2017. 22:38 IST