Kobe Steel’s product quality scandal is far more troubling and widespread than the company originally let on. "I deep We deeply and sincerely apologize once again for causing substantial troubles to our customers, business partners, shareholders, and other stakeholders due to the misconduct of Kobe Steel, Ltd. (the “Company” or “we”) and its Group ( the “Group” or “Kobe Steel Group”). Die Tageszeitung "Nikkei" berichtete, die Tochtergesellschaft Kobelco Research Institute, die sowohl für Kobe Steel als auch andere Firmen Produkte testet, habe ohne Inspektionen Materialien zur Produktion von Halbleitern ausgeliefert.Das Unternehmen schrieb in den vergangenen zwei Geschäftsjahren wegen hoher Materialkosten und Abschreibungen im Chinageschäft rote Zahlen.Die Zeitung "Yomiuri" hatte zuvor berichtet, dass sich der Datenfälschungsskandal auch auf diese etwa in Autogetrieben verwendeten Bauteile ausweiten könnte. In 2008, Kobe Steel subsidiary Nippon Koshuha Steel Co. was found to have cheated on steel inspection data. Base metal Kobe Steel admits falsifying data on 20,000 tonnes of metal. Am Wochenende musste Kobe Steel bereits einräumen, die Daten einiger Aluminium- und Kupferprodukte gefälscht zu haben. But Volkswagen falsified this theory by involving in emission scandal. Kobe Steel Misleading Info on Ethics, Quality Control, and Data Securities Class Action In a shocking public announcement in October 2107, the celebrated Kobe Steel company admitted that it had failed at quality control and falsified inspection certificates. Die Datenfälschungen betreffen Materialien, die in Autos, Flugzeugen und möglicherweise auch in einer Weltraumrakete sowie Militärausrüstung eingesetzt wurden.Ein Unternehmenssprecher bestätigte Ermittlungen in dem Geschäftszweig. Von Kobe Steel bis Mitsubishi Produktdaten-Skandal in Japan zieht Kreise Rund 200 Firmen wurden von Kobe Steel falsche Angaben zu Aluminium-, Kupfer- und Stahlprodukten gemacht. Kobe Steel Skandal um gepanschte Metalle erschüttert Japan Beim japanischen Stahlkonzern Kobe Steel sollen mehrere Daten zu Produkten gefälscht worden sein. Kobe Steel Ltd.'s data fabrication scandal is the latest problem to stain the firm since the 1990s, raising serious questions about its compliance. Am Tag zuvor hatten sie bereits um gut ein Fünftel nachgegeben.Japans Industrie wurde durch die Enthüllungen in Aufruhr versetzt. According to Kantian business ethics, business has the obligations to fulfill the ethical aspects for retaining in the market. Kobe Steel, Ltd. Report on the Kobe Steel Group’s misconduct . Die Aktien des Stahlkonzerns brachen am Mittwoch um weitere 18 Prozent ein. In 2016, shoddy legal compliance led to another quality-control issue … It is the latest in a long list of scandals to have befallen corporate Japan The complaint for this class action alleges that the company deliberately hid its misconduct and gave the public false and/or misleading information, in violation of the Securities Exchange Act of 1934.Please provide any additional information about your inquiry.On October 8, 2017, Kobe issued a press release admitting that “a portion of” its aluminum and copper products “did not comply with product specifications” and that “[d]ata inspection certificates had been improperly rewritten, etc.” Later revelations in the press and from the company extended the problems to steel and estimated that deficient products had been sold to about 200 companies. In October 2017, Kobe Steel admitted that some employees had falsified inspection data concerning products and parts sold to its top customers, including many automotive and aerospace companies—Ford, GM, Mitsubishi, Toyota, Nissan, Honda, Mazda, Boeing, and Airbus, to name a few. Utilitarianism is an ethical theory that is describes the right and wrong based on outcomes. The complaint alleges that all of these statements presented a false or misleading picture of Kobe’s actual operations, omitting or hiding important information:The class for this action is all persons or entities who acquired Kobe Steel ADRs on the open market in the US between May 29, 2013 and October 12, 2017.At the beginning of the class period, Kobe undertook a new plan to make the company more efficient and profitable, purportedly to “reduce fixed costs, procurement costs, quality error costs and other costs.” But the complaint alleges that the plan actually relied on cutting corners and falsifying data, while still claiming to be prioritizing quality, ethics, and compliance.In a shocking public announcement in October 2107, the celebrated Kobe Steel company admitted that it had failed at quality control and falsified inspection certificates. The complaint for this class action alleges that the company deliberately hid its misconduct, in violation of the Securities Exchange Act of 1934, and gave the public false and/or misleading information claiming it put a high value on compliance, ethics, and product quality.At these revelations, Kobe’s stock price fell over a period of days, from $5.92 to $3.55.Kobe Steel, Ltd. is one of Japan’s largest steelmakers and a major supplier of aluminum and copper products. (Foto: REUTERS)
The following statements by the company appeared in company codes, SEC filings, business plans, or other published documents:In a shocking public announcement in October 2107, the celebrated Kobe Steel company admitted that it had failed at quality control and falsified inspection certificates. Dazu wollte sich der Unternehmenssprecher nicht äußern. It also has business segments engaged in power supplies, construction machinery, real estate, and electronic materials.The complaint is more than sixty pages long, listing many occasions during the class period when the company made statements touting its honesty, compliance, and quality standards.
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