Kobe Steel Scandal Expands Into Core Business Overseas
- Company admits misconduct related to steel wire products
- CEO Hiroya Kawasaki to hold briefing Friday evening in Tokyo
Ford Says Mondeo Car Hoods Used Kobe Steel Aluminum
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Kobe Steel Ltd.’s fake data scandal expanded to its core business after the company admitted “inappropriate actions” related to steel wire produced overseas, triggering a fresh collapse in its shares and heightened speculation that the steelmaker may get broken up.
Customers have been informed about the issue, which has been resolved, Tokyo-based spokeswoman Eimi Hamano said by phone, declining to provide details. Kobe Steel falsified quality certification data for steel wire used in auto engines and to strengthen tires, the Nikkei newspaper reported Friday.