String of Scandals Shreds Japan's Once-Revered Reputation
- Kobe Steel falsified data on aluminum used in cars and planes
- The number of improper accounting cases hit a peak in 2016
Kobe Steel Reveals It Falsified Data
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Japan’s flagship companies were once held in awe as fierce competitors that revolutionized the world’s business practices with innovations like flexible manufacturing and managerial precepts such as kaizen, or continuous improvement.
These days, Japan Inc. is turning heads for a less exalted reason: a string of scandals that’s destroyed shareholder value, enraged consumers and incurred the wrath of regulators.