Kobe Steel Shares Plunge As Data Fabrication Concerns Deepen

www.oann.com | 10/10/2017 | Staff
monna (Posted by) Level 3
TOKYO (Reuters) – Kobe Steel Ltd shares tumbled a further 16 percent on Wednesday after it admitted it may have fabricated data on iron powder products and media reported the possible sale of its real estate business.

The latest disclosure comes after Japan’s No.3 steelmaker said on the weekend it had falsified data to show that its aluminum and copper products had met customer specifications, and suggests the problems could be widespread.

Manufacturers - Turmoil - Revelation - Implications - Materials

Japanese manufacturers were thrown into turmoil by the revelation, with implications for materials used in cars, aircraft and possibly a space rocket and defense equipment.

Shares in Kobe Steel were down 15.73 percent at 900 yen as of 0114 GMT on Wednesday, underperforming the...
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