Kobe Steel to hold bidding for real estate unit on Friday: Bloomberg

FAN Editor
FILE PHOTO: The logo of Kobe Steel is seen at the group's Tokyo headquarters building in Tokyo
FILE PHOTO: The logo of Kobe Steel is seen at the group’s Tokyo headquarters building in Tokyo, Japan October 10, 2017. REUTERS/Issei Kato/File Photo

October 18, 2017

TOKYO (Reuters) – Japanese steelmaker Kobe Steel Ltd <5406.T>, embroiled in a data falsification scandal that has roiled global supply chains, will hold a first round of bidding on Friday in the planned sale of a real estate unit, Bloomberg News reported on Wednesday.

Japan’s No.3 steelmaker has hired Mizuho Securities, the brokerage arm of Mizuho Financial Group Inc <8411.T>, as an advisor for the sale of more than two-thirds of Shinko Real Esate, Bloomberg said, citing unidentified sources. The news agency didn’t say how much the asset might be worth.

Both Kobe Steel and Mizuho Securities declined to comment.

Kobe Steel has said about 500 companies received falsely certified products. A person with knowledge of the matter told Reuters that data tampering on products went on for more than a decade.

(Reporting by Sam Nussey; Editing by Kenneth Maxwell)

Leave a Reply

Next Post

Low ECB rates an opportunity to reform, Draghi argues

European Central Bank (ECB) President Mario Draghi speaks at a news conference during the IMF/World Bank annual meetings in Washington, U.S., October 14, 2017. REUTERS/Yuri Gripas October 18, 2017 FRANKFURT (Reuters) – Easy monetary policy gives euro zone governments a window of opportunity to enact the reforms needed to boost […]

You May Like