Kobe Steel said its iron powder products may have data fraud problems


Kobe Steel (5406.T) confirmed the media on Wednesday that its iron powder products could have tampering problems.

Yomiuri Shimbun reported that Kobe Steel could make false data on iron powder products. The iron powder products are usually used for automotive gears and other components. Kobe Steel is Japan's third largest steelmaker.

A spokesman said the company was investigating the issue.

And last week the company disclosed that it had tampered with the data to make its aluminum and copper products meet the specifications required by the customer.

Kobe Steel shares fell 17% in early trading yesterday morning, plunging 22% yesterday.

 


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