Data falsification, Kobe Steel shares fell

Data falsification, Kobe Steel shares fell

Kobe Steel shares rose in Tokyo on Tuesday, after the company acquired falsifying data on aluminium and copper parts, far more than the company’s stock bid.

According to Reuters data show that Japan’s third largest steel mills did not fall in stock prices, but in 25.6m sell orders rose more than 1.7m bids in morning trading. Tokyo Stock Exchange was off on Monday in the National Health Day holiday.

Kobe Steel acknowledged Sunday that it had falsified inspection data of 20,000 tons of metal for aircraft and cars in the latest quality scandal to crack down on Japanese companies.

The company said the issue affected the shipment of about 200 customers from four domestic factories from August to April 2007. End users include troubles in the Mitsubishi region jet.

Source:Financial Times

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