The metals and equipment maker said late Tuesday that it would "sincerely cooperate" with an investigation by the U.S. Department of Justice. The tampering went back more than 10 years, a source told Reuters earlier this week.
Most of the problems have occurred in the company's aluminum and copper business, where numerous products are made to specifications required by automakers and other companies.
It said it had reviewed three years' worth of aluminum purchases from Kobe Steel and would continue its examination.
In a statement, Toyota stated that it was working to recognize whether non-aluminum items provided by Kobe Steel, which are used in the automaker' Toyota- and Lexus-branded vehicles, will likewise meet the standards.
"We confirmed that the materials satisfy applicable statutory standards, and our own internal standard, for key safety and durability requirements for vehicles", Toyota said in a statement.
"We can not confirm the Nikkei report as our investigation is ongoing", a Kobe Steel spokesman said.
Nonetheless, the company's fate hangs in the balance while checks are being carried out. Japan's Ministry of Economy, Trade and Industry has also asked the company for a report on the scandal including causes and remedies.
Last week saw Kobe's stock value collapse 41 percent as investors rushed to punish the latest instance of corporate malfeasance in Japan, after similar misconduct around data at companies such as Mitsubishi Motors Corp. and Asahi Kasei Corp. This becomes somewhat more alarming when you learn that these clients include producers of such little things as airplanes, space rockets, Japan's magnetic bullet trains, and, of course, auto manufacturers.
Revenue Estimates Analysis Of PayPal Holdings, Inc. (PYPL) Analysts believe that the company has the potential to earn average revenue of $3.18 Billion for the current quarter. Further, company shares have been seen trading -3.12% off of the 52 week high and 77.19% away from the 52 week low.
Congressman Pat Tiberi Of Ohio Won't Seek Re-Election Tiberi, a member of the tax-writing House Ways and Means Committee, expressed appreciation for the people of Ohio's 12th district. Congressional Republicans have seen a number of high-profile resignations and early retirements, including Tennessee's Sen.
"Where alternative suppliers are available, it is recommended to suspend use of Kobe Steel products until the legitimacy of the affected parts can be determined", EASA said in a Safety Information Bulletin (SIB) dated October 17.
The former employee, who worked at the steel maker's aluminum and copper division in the 1990s, said the memos passed down in the division outlined how far products could deviate from agreed-upon specifications without causing noticeable issues. "There is no excuse for it. (Kobe Steel) has crossed a line that should not be crossed by a manufacturer", he said.
There was no manual providing guidance to staff on cheating product specifications, a senior Kobe Steel executive told reporters, on condition of anonymity.
Kobe Steel CEO Hiroya Kawasaki said last week that public trust in his company had "fallen to zero".
It also counts amongst its former employees Japan's Prime Minister Shinzo Abe, who worked at Kobe Steel from 1979 before entering politics in the early 80s and who has pushed Japanese companies to embrace worldwide corporate governance standards.
Lloyd's Register Quality Assurance Ltd and Japan Quality Assurance Organization said they may suspend or cancel ISO9001 certification of Kobe Steel's plants or subsidiary, if they do not meet the standard.
A Kobe Steel executive said late on Wednesday that the company expected to issue a new safety inspection report as early as next week. The meeting will share information but its final scope and start date have not been finalised.
Two railways that operate Shinkansen "bullet trains" in Japan that contain metal produced by Kobe Steel have already said their trains are safe.
Booker had trainers looking at him a handful of times before hobbling off to the bench at that point in the game. In the second quarter, things continued to slip away for the Suns , with Portland executing and well on offense.
Since The Tragically Hip's first album in 1987, the band has provided a soundtrack for the lives of many Canadians. But through it all, Downie remained the consummate showman, rocking out on stage in distinctive leather suits.
Crime in the southern Nigeria has risen previous year , which coincided with a series of attacks on various energy facilities. Aniamaka said the four had been providing medical aid in the country and that police were attempting to rescue them.
Janes breaded chicken products are frequently available in Nunavut at stores operated by North West Co. and Arctic Co-ops Ltd. Several individuals involved in the outbreak reported eating Janes Pub Style Chicken Burgers before becoming sick.
By taking a look at the stock's current statistics it can gauged that the stock candle is BULLISH with MEDIUM volatility. Guggenheim reissued a "buy" rating and issued a $70.00 target price on shares of Nike in a report on Monday, July 24th.
This was not the specific exploit we were checking for and we don't now have the ability to detect it. After frustration and anger was expressed by the community, Bungie has since responded to the claims.
BidaskClub downgraded shares of Ignyta from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 19th. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients.
In the Philippines, Nivea's Extra Whitening Cell Repair & Protect Body Milk offers "fair skin" even after exposure to sunlight. Nivea might have pulled the " white is purity " ad, but that hasn't stopped it from advertising the benefits of whiter skin.
Big Ten approves move to 20-game conference schedule
Under the new men's format, teams will play seven opponents twice and six teams once (three home, three away) in a given season. More league opponents means playing more opponents one time at the expense of a home and road game against more opponents.