Mitsubishi Materials shares fall on fake data scandal

Mitsubishi Materials shares fall on fake data scandal
 

Mitsubishi Materials, a division of one of Japan's biggest conglomerates, saw shares fall by as much 11% on Friday after admitting to a quality scandal.
Three of its units were found to have falsified data for products supplied to nearly 300 companies in the aerospace, car and electric power industries.
No safety issues have been reported.
The discovery is the latest in a string of scandals tarnishing the image of corporate Japan and its reputation for precision manufacturing.
Kobe Steel, Mitsubishi Motors, Nissan and Subaru all recently admitted to manipulating data. Several of them saw... read more

 
24 November 2017 in Business, Views: 56
Source: BBC
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