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Kobe Steel says there may have been data fabrication in iron powder products
October 11, 2017 / 12:36 AM / 2 months ago

Kobe Steel says there may have been data fabrication in iron powder products

TOKYO (Reuters) - Kobe Steel Ltd (5406.T) on Wednesday confirmed a media report that there may have been data fabrication in iron powder products.

The logo of Kobe Steel is seen at the group's Tokyo headquarters building in Tokyo, Japan October 10, 2017. REUTERS/Issei Kato

The Yomiuri newspaper reported Japan’s third-biggest steelmaker may have fabricated data on iron powder products used typically in components such as automotive gears.

    The company is currently investigating the issue, a spokesman said.

    The revelation follows a disclosure over the weekend that the company had fabricated data to falsely show that its aluminium and copper products had met customer specifications.

    Kobe Steel shares slumped another 17 percent on Wednesday morning following a 22 percent fall the previous day.

    Reporting by Makiko Yamazaki; Editing by Stephen Coates

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