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Kobe Steel confirms data falsification

Staff Writer |
Investors looked set to bail out of Kobe Steel, after Japan’s third-biggest steelmaker revealed it had fabricated data to show its products met customer specifications in the latest scandal to rock corporate Japan.

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Kobe Steel said on Sunday that about 4 percent of the aluminum and copper products that it shipped from September 2016 to August 2017 were falsely labeled as meeting the specifications requested by customers.

The misconduct involved dozens of staff and possibly stretched back 10 years, the company said.

UACJ, Japan’s biggest aluminum maker, may be a beneficiary of the scandal, he said.


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