Kobe Steel

Dated practice bane of Japan manufacturing

The reputation of "Made in Japan" products is at stake after a string of data-tampering scandals surrounding Kobe Steel, Nissan, Mitsubishi and other …

Shinzo Abe

Best practice needs the human touch

At the heart of most corporate crises lie the risks involved in managing people. After a host of scandals during the present century, companies …

Jes Staley

Japan railway 'deeply sorry' after train leaves 20 seconds early

A Japanese railway operator has issued a deep apology for the “tremendous nuisance” caused by a train departing 20 seconds early, surprising even a …

Trains

Japan shares higher at close of trade; Nikkei 225 up 0.27%

Investing.com – Japan equities were higher at the close on Friday, as gains in the Pharmaceutical Industry, Communication and Manufacturing sectors …

Markets

Japan's Subaru recalls 395,000 vehicles due to final checks by unqualified staff - Xinhua

TOKYO, Nov. 16 (Xinhua) -- Subaru Corp. on Thursday filed a recall of around 395,000 vehicles with Japan's transport ministry after it came to light …

News (China)

Automaker Subaru sees $177 million in costs linked to inspection scandal

TOKYO (Reuters) - Subaru Corp (7270.T) said it was recalling 395,000 vehicles in Japan and that it expected to incur about 20 billion yen ($177 million) in costs related to improper final inspection procedures at domestic plants.<p>The logo of Subaru Corp. is pictured at the 45th Tokyo Motor Show in …

Subaru

Kobe Steel's Hatano plant to lose all JIS certifications: Nikkei

TOKYO (Reuters) - A unit of Kobe Steel (5406.T) is set to lose all of its Japan Industrial Standards (JIS) certifications at its Hatano plant, including one already revoked last month, the Nikkei reported on Wednesday.<p>Japan's third-largest steelmaker, which supplies manufacturers of cars, planes, …

Commodity Slide Drags Asia Stocks Lower

Asian stocks came under pressure on Wednesday as declining commodity prices continued to weigh on the market.<p>Australia's benchmark S&P/ASX 200 closed …

Markets

Olympus whistleblower lands TV deal as Japan faces wave of fresh scandals

The British chief executive who exposed a £1.1bn scandal at the heart of Japanese giant Olympus has landed an international TV deal showcasing his dramatic story.<p>Whistle-blower Michael Woodford was hounded out of Japan and left in fear for his life after unearthing a web of corruption within the …

Keynesian Economics

Kobe Steel Blames Plant Managers for Quality Control Scandal

TOKYO — When a roll of aluminum produced at a Kobe Steel factory fell short of customers’ exacting demands for qualities like strength, plant managers were supposed to make a painful but necessary decision: Start again and make a new, better roll of metal, even if it cost the company time and money.<p>…

Business

Kobe Steel quality scandal driven by pursuit of profits and demanding corporate culture

Scandal-hit Kobe Steel's troubles were driven by a relentless focus on profits and the company’s regimented corporate culture, which led to more than decade of faked quality guarantees on its products.<p>Japan’s third largest steel-maker said it “sincerely and deeply apologised for the enormous amount …

Kobe Steel trapped in endless chain of scandals

TOKYO -- Hiroya Kawasaki, chairman, president and CEO of Kobe Steel, has many frog ornaments in his offices in Tokyo and Kobe. <i>Kaeru</i>, Japanese for …

Industrial production smashes expectations but construction sector slips deep into recession

• Pound makes modest rebound as industrial and manufacturing production figures beat expectations; climbs 0.5pc against the dollar to over $1.32<br>• Construction sector slips into recession but stronger industrial output confirms that the UK economy picked up the pace in the third quarter; trade deficit …

Economy

Japan’s Kobe Steel blames fake data scandal on corporate culture

Kobe Steel has sought to blame at least a decade of data fabrication across multiple production facilities on a closed corporate culture, …

News Highlights: Top Company News of the Day

J.C. Penney Lowered Its Goals, Then Beat Them<p>Shares of J.C. Penney jumped Friday after it easily beat the expectations it lowered only weeks before.<p>Uber Suffers Setback as U.K. Court Rules Its Drivers Should Have Workers' Rights<p>Uber Technologies suffered a setback in a British court when an appeals …

J.C. Penney

Kobe Steel says focus on profit, targets led to scandal

Kobe Steel is pointing to a zealous pursuit of profit, unrealistic targets and an insular corporate culture as the causes of massive faked inspection …

Business

Kobe says a focus on profit rather than quality led to the data tampering scandal

Tokyo — Kobe Steel said on Friday a lack of quality controls and a focus on profits was behind the widespread data tampering that has shaken up the …

Business (South Africa)

Kobe blames poor controls and profit focus for data breach

<b>Japan's Kobe Steel has blamed a lack of controls and a focus on profits for the faking of data on the quality of some of its products.</b><p>The company said it would automate more of its operations and reorganise its quality control systems.<p>The announcements came in a report that was published following …

Business

Business Live: Friday 10 November - BBC News

Live Reporting<p>Getty Images<p>Snapchat is hoping Londoners will shell out £130 for camera-equipped sunglasses that consumers have failed to buy anywhere else in the world.<p>From tomorrow, Snap's Spectacles will be sold from the pop-up Boxpark mall in Shoreditch, east London.<p>The store opening comes just …

Economy

Toyota Cleared After Kobe Steel Debacle

Toyota announced a follow-up to its initial investigation of its manufacturing process after Kobe Steel's guilty admission<p>Toyotoa<p>Japanese Steel …

Autos

Kobe Steel executives to decide whether to resign after external probe: sources

TOKYO (Reuters) - Kobe Steel (5406.T) executives, including President Hiroya Kawasaki, will decide whether to resign to take responsibility for a cheating scandal after a report from independent investigators due by year-end, two sources told Reuters.<p>The Kobe Steel (Kobelco) logo is seen on the …

Kobe Steel executives to decide whether to resign after external probe - sources

TOKYO (Reuters) - Kobe Steel (T:5406) executives, including President Hiroya Kawasaki, will decide whether to resign to take responsibility for a …

Bevy of scandals expose Japan Inc's corporate governance problem

Growing number of fiascos ought to make Japanese enterprises confront their corporate governance demons.<p>Japan's steady stream of corporate scandals …

Governance

Monday Morning Briefing

A gunman kills 26 worshipers in a Texas church, the so-called Paradise Papers expose new high-profile cases of tax avoidance and oil jumps as Saudi Arabia’s crown prince cracks down on corruption.<p>Brayleigh and her brother Branson attend a candle light vigil after a mass shooting at the First …

North Korea

Factbox: Kobe Steel's 10 largest shareholders

(Reuters) - Kobe Steel's ten largest shareholders, with percentage holdings and number of shares<p>- Asset Management One Co Ltd and other Mizuho Financial Group Inc companies 6.54 pct (23.83 mln shares)<p>- Mitsubishi UFJ Trust and Banking Corp and other Mitsubishi UFJ Financial Group Inc companies 6.09 …

Scandal-hit Kobe Steel has a 'look the other way' culture, they say in hometown | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.<p>Published Date: Nov 05, 2017 10:03 pm | Updated Date: Nov 05, 2017 …

Steel

Sony comes back from the brink, and it’s not all thanks to Spider-Man

After losing more than £3bn in 2012, Japan’s tech giant is fighting its way back to record profits under Kazuo Hirai, partly by working with Apple rather than trying to beat it. Investments in PlayStation and TV production have also helped<p>Six years after reporting its biggest-ever loss, Sony is no …

Kobe Steel scandal: Is Japan finally bowing to the inevitable?

There are three main types of Japanese bow. Eshaku is little more that a nod of the head: keirei is a 30-degree tilt to signify respect. Then there is saikeirei, a full 45 to 90-degree bow that shows deep veneration, humility or abject contrition. The world has had ample opportunity to watch …

Japan

Japan safety failures signal deeper malaise

Subaru Corp President Yasuyuki Yoshinaga (front) bows in apology at a press conference on the company's inspection scandal in Tokyo, Japan on October …

News (China)

Japan shares higher at close of trade; Nikkei 225 up 0.53%

Investing.com – Japan equities were higher at the close on Thursday, as gains in the Power, Transport and Paper & Pulp sectors propelled shares …

Markets