Japan's Kobe Steel scandal spreads, 500 firms affected

Japan's Kobe Steel scandal spreads, 500 firms affectedJapan’s Kobe Steel admitted Friday that a snowballing falsified data scandal had affected around 500 customers, more than twice as many as initially thought. More than 30 foreign customers were affected, including Boeing, Airbus, General Motors, Tesla, German automaker Daimler and PSA of France, according to Japan’s leading Nikkei business daily. The new estimate comes as Kobe Steel’s battered stock fell almost nine percent to finish at 805 yen ($ 7.20), down more than 40 percent since the start of the week after it admitted falsifying strength and quality data for a string of products — a practice it said may have started a decade ago.



Yahoo News – Latest News & Headlines