8chan/8kun QResearch Posts (2)
#20104837 at 2023-12-20 16:32:00 (UTC+1)
Q Research General #24673: Cabal in Final Death Throes Edition
Kobe Steel CEO says data-cheating may have spread beyond Japan as government orders probe
By Yuka Obayashi
October 11, 201711:05 PM PDTUpdated 6 years ago
TOKYO (Reuters) - Kobe Steel's CEO said on Thursday the firm's data-fabrication may have spread beyond Japan, as he was ordered by the government to report on how the misconduct occurred and address safety concerns that have sparked a scare along global supply chains.
Hiroya Kawasaki told reporters the cheating scandal has left Kobe Steel's credibility at "zero," underscoring the deepening crisis at the steelmaker and the sweep of quality problems besetting Japan's once-vaunted manufacturing sector.
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"The credibility of Kobe Steel has plunged to zero. We will make efforts to regain trust as soon as possible," Kawasaki, 63, told reporters after meeting government officials.
A senior government official said managers at Kobe Steel were involved in fabricating data on products used in planes, trains and automobiles, but Kawasaki said his current priority is to deal with safety checks with its clients. The official did not elaborate.
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Japan's Nippon Steel to acquire US Steel in $14.9B deal - YouTube
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carry on
#6404008 at 2019-05-03 18:30:52 (UTC+1)
Q Research General #8189: Envy Of The World. They Fear This Board Edition
>>6403591 pb
>>6403026 pb
NASA Says Metals Fraud (by a Chinese company) Caused $700 Million Satellite Failure
https://www.bloomberg.com/news/articles/2019-05-01/nasa-says-aluminum-fraud-caused-700-million-satellite-failures
It appears Japan's Kobe Steel was one of the companies involved. Kobe Steel admits data fraud went on nearly five decades, CEO to quit
Yuka Obayashi
(Reuters) - Kobe Steel Ltd admitted on Tuesday its data fraud has been going on nearly five decades and also revealed new cases of cheating, highlighting the challenges facing the 112-year-old company mired in compliance failures and malfeasance.
Japan's third-biggest steelmaker said its CEO will step down to take responsibility for the widespread data fraud scandal that came to light last year, although doubts remain over its corporate culture and the possibility of future fines.
Kobe Steel, which supplies steel parts 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.
The company, in announcing the results from a four-month-long investigation by an external committee, said it had also found new cases of impropriety, widening the total of affected clients to 605, including 222 customers overseas.
"I feel heavy responsibility as our data falsification has caused trouble to so many customers," the resigning CEO and chairman, Hiroya Kawasaki, told a news conference.
"I've offered my resignation … as I think preventive measures should be done under a new management," he said.
Kawasaki will leave his post on April 1, with his successor to be decided soon by the board, the company said.
Inappropriate actions were widespread, and were carried out with the knowledge and involvement of many, including management, the company said.
Kobe Steel also announced the resignation of Executive Vice President Akira Kaneko and temporary pay cuts for up to 80 percent of all internal directors and executive officers.
The case was one of the country's biggest industrial scandals in recent memory, which set off a rash of malfeasance revelations by other Japanese heavyweights, hitting the country's reputation for manufacturing excellence.
In the past several months, Mitsubishi Materials Corp, Toray Industries and Ube Industries have also admitted to product data fabrication while automakers Nissan Motor and Subaru Corp have revealed incorrect final inspection procedures.
PROBLEMS LONG ENTRENCHED
Kobe Steel said the data cheating started at least as early as the 1970s, based on testimony from multiple sources interviewed by the external investigation team.