You are here

Scandal-hit Kobe Steel seeks 50b yen in loans; pulls profit forecast

Bigger rival Nippon Steel - with 2.95% stake - says it's ready to provide support

Kobe Steel is losing customers and said on Friday it had its government- sanctioned seal of quality revoked on some of its products.


EMBATTLED Kobe Steel Ltd is seeking 50 billion yen (S$599 million) in loans from banks, a banking source said on Monday, while a shareholder said it was ready to offer assistance as the company grapples with a scandal over falsified product specifications.

Japan's third-...

Market voices on: