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Nissan shares tumble ahead of emissions briefing

Reuters  |  TOKYO 

(Reuters) - Shares in Motor Co on Monday slumped about 5 percent to their lowest level in more than a year after the automaker said it would hold a briefing regarding its procedures to measure vehicle at its domestic plants.

Japan's second-largest automaker said it would issue an explanation about its emissions measurement processes at 0800 GMT, sending its shares down to 999.5 yen each, their lowest since April 2017. declined to give further details.

Japanese companies have admitted to several cases of data tampering over the past year, tarnishing the country's reputation for high-quality, efficient

In October last year, said that for decades uncertified inspectors had signed off on final checks for cars sold in the country, triggering a domestic recall of 1.2 million

The automaker blamed staffing shortages for the misconduct, which contributed to a slide in full-year operating profit in the year ended March.

Kobe Steel Ltd, which supplies to manufacturers of cars, planes and trains around the world, admitted last year to supplying products with falsified specifications to about 500 customers, throwing global supply chains into turmoil.

Domestic rival in April admitted that employees had manipulated mileage readings on for the Japanese market, which followed the surfacing of domestic compliance failings last year.

(Reporting by Naomi Tajitsu; Editing by Stephen Coates)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 11:53 IST