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Tovarisc

Member
Oct 25, 2017
24,434
FIN
Mitsubishi Materials said Thursday that it had falsified data on multiple products -- including components used in cars and airplanes -- for more than a year, adding to Japan's growing list of corporate scandals.

At least two of the company's subsidiaries faked data to meet specifications set by clients, it said in a statement.

Mitsubishi Cable Industries had been misrepresenting data on rubber sealants used in automobiles and aircraft, the company added. Data was falsified for around 270 million units sold between April 2015 and September 2017 to a total of 229 customers.

Another subsidiary, Mitsubishi Shindoh, had been fudging details of some of its metal products for at least the past year, including brass and copper parts used in the automotive and electronics industries. At least 29 companies are believed to have bought the parts in question.

"We have not at this time identified any instances of illegal conduct or concerns relating to safety at either [subsidiary]," Mitsubishi Materials said. The company is part of the sprawling Mitsubishi(MSBHY) group.
A month ago, Kobe Steel admitted to falsifying data on products sold to big clients such as Boeing (BA) and Toyota (TM), sending its stock tumbling more than 40%.

Mitsubishi is one of many companies affected by the Kobe Steel scandal, having used metal parts made with false data in its airplanes. The two companies also have a joint venture to produce copper tubes.
and few more mentioned in http://money.cnn.com/2017/11/23/new...index.html?sr=twCNN112317companies0259PMStory