Kobe Steel shares tumble spread beyond Japan, 30-plus foreign cos affected

Kobe Steel shares tumble spread beyond Japan, 30-plus foreign cos affected

Shares of Kobe Steel Ltd<5406.T> fell more than 8% in early trading on Friday, the Nikkei reported that more than 30 non-Japanese customers, including Daimler AG and Airbus SE, were affected by the company’s data falsification.

Kobe Steel shares fell down 8.5 percent at 0030 GMT after stabilising on Thursday to close slightly higher.

Chief Executive Hiroya Kawasaki warned reporters on Thursday, the company said the impact of about 200 companies in the data falsification practice may have spread beyond Japan

The government has ordered reports of misconduct occurred and in about two weeks to address security issues.

Source:Reuters

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