Japan Inc takes further hit as another firm admits to faked data
Mitsubishi Materials' announcement comes just weeks after a similar scandal engulfed Kobe Steel
Tokyo
JAPAN'S reputation for manufacturing prowess took another hit as Mitsubishi Materials Corp admitted that it falsified data on some products just weeks after a similar scandal engulfed Kobe Steel Ltd.
Buyers of Japanese industrial goods from Boeing Co to Airbus SE were once again scrambling to confirm whether safety had been compromised after Mitsubishi Materials said three of its units had faked data on products that may have been delivered to more than 250 customers. Its shares plunged as much as 11 per cent in Tokyo, the most in 18 months.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
London's FTSE 100 extends record streak as UK exits recession
Hot stock: UOI surges to over 6-month high amid heavy trading
Brokers’ take: AEM now in ‘hold’ position for Maybank and DBS
Cordlife says private placement is to address urgent cash needs
TSMC keeps sales growth up in April as AI drives 60% jump
OCBC CEO confident on 2024 performance as Q1 profit rises 5% to S$1.98 billion