- Rod Rosenstein on his way to White House amid reports that he expects to be fired
- Apple and Salesforce are teaming up to launch Siri into enterprise
- Cramer: Using an iPhone for business just got way better under a new partnership with Salesforce
- Nike has hit a new record—here's how much you'd have if you invested $1,000 10 years ago
- Sky’s shares jump after Comcast wins auction with big bet
Mitsubishi Materials Corp. President Akira Takeuchi, Executive Vice President Naoki Ono, Mitsubishi Shindoh Co. President Kazumasa Hori and Mitsubishi Cable Industries Ltd. President Nobuhiro Takayanagi attend a news conference in Tokyo, Japan December 28, 2017. REUTERS/Toru Hanai
December 28, 2017
TOKYO (Reuters) – Mitsubishi Materials Corp <5711.T> said on Thursday that a push to expand market share had driven a subsidiary to fake product specification, one of several compliance scandals that have come to light this year in a blow to the reputation of Japan Inc.
Mitsubishi Materials said in November that its subsidiaries falsified data about products, including parts for aircraft and automobiles. Japan’s Kansai Electric Power Co <9503.T> said earlier this month that two of its nuclear plants used parts with possibly falsified data supplied by Mitsubishi Cable Industries, one of the units.
Mitsubishi Materials said a committee looking into the case had found that Mitsubishi Shindoh, which was late to enter the market for metal products used in device connectors for cars, had taken orders even when they could not meet customers’ product specification.
It also cited an urge to approve products to prevent losses, and a lack of awareness about compliance and quality assurance among its staff.
Other companies that have admitted to product data falsification including Kobe Steel <5406.T> and Toray Industries <3402.T> have also blamed a focus on profit, lax quality controls and staffing shortages.
(Reporting by Ritsuko Ando; Editing by Shri Navaratnam)