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Kobe Steel hears from DoJ; may have faked data for more than a decade

Oct. 17, 2017 10:17 AM ETKobe Steel, Ltd. (KBSTF) StockTM, KBSTY, NSANY, FUJHY, FUJHF, KBSTF, NSANFBy: Carl Surran, SA News Editor5 Comments
  • Kobe Steel (OTCPK:KBSTF, OTCPK:KBSTY) says the U.S. Justice Department is asking for documents related to its data falsification scandal.
  • The DoJ’s involvement means the company is “going to have to go overboard to be cleaner than clean,” says a director at Bucephalus Research Partnership.
  • The news comes after a report alleging that Kobe Steel's data tampering went on for decades with the knowledge of plant and quality control managers, well beyond the 10 years already acknowledged by Japan's no. 3 steelmaker.
  • Some of Japan's biggest automakers - including Toyota (NYSE:TM), Nissan (OTCPK:NSANF, OTCPK:NSANY) and Subaru (OTCPK:FUJHF, OTCPK:FUJHY) - have said they are investigating whether any car parts contain falsified materials from Kobe.

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