Japan’s Kobe Steel May Have Faked Data for Over a Decade
- Firm is said to have likely falsified data for over a decade
- Real estate unit on the block as firm considers asset sales
Kobe Steel Says 'May Find More Fake Data'
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Kobe Steel Ltd. said it will co-operate with the U.S. Department of Justice after the agency requested documents related to the fake data scandal that risks engulfing Japan’s third-biggest steelmaker.
Kobe has said some 500 companies worldwide are in a supply chain tainted by admissions that it falsified certifications on the strength and durability of metals going back to 2007, including automotive giants Ford Motor Co. and General Motors Co. and the U.S.’s biggest plane maker, Boeing Co. The besieged Japanese company said in a statement it can’t yet quantify the impact of the crisis on its earnings.