Picture of Nissan Shatai logo

7222 — Nissan Shatai News Story

0.000.00%
jp flag iconLast trade - 00:00
Consumer CyclicalsBalancedMid CapContrarian

Kobe Steel plant loses remaining industrial quality badge (updated)

* Company loses seal of quality for insulated copper tubing 
    * Latest blow to company from data-tampering scandal 
    * International standard also removed from Hatano plant 
 
 (Recasts with confirmation from industry ministry) 
    TOKYO, Nov 15 (Reuters) - A Kobe Steel  5406.T  plant, which 
is at the centre of a data falsification scandal that has roiled 
supply chains around the world, has been stripped of all its 
industrial quality certifications, Japan's government said on 
Wednesday. 
    The government-sanctioned seal on insulated copper tubing 
from Kobe's Hatano plant was revoked after an investigation by a 
certification firm into its quality controls, Japan's Ministry 
of Economy, Trade and Industry said in a statement. 
    The plant, located southwest of Tokyo, has also lost its ISO 
9001 quality certificate from the International Standards 
Organization, Japan Quality Assurance Organization said. 
    Earlier, the plant's Japan Industrial Standards (JIS) seal 
for its seamless copper pipe products was removed, as part of 
the fallout of one of Japan's biggest industrial scandals.  
    Japan's third-largest steelmaker, which supplies producers 
of cars, planes, trains and other products across the world, 
said last month that about 500 of its customers had received 
products with falsified specifications. 
    The company is planning to make a statement on the standards 
revocation at 0730 GMT, a Kobe Steel spokesperson said when 
contacted by Reuters. 
    Having the quality seals revoked means the company can no 
longer sell the products with the JIS label, potentially 
restricting the number of customers that can buy them. 
    Japanese manufacturing prowess has taken a hit in recent 
weeks due to the Kobe Steel scandal and news of improper final 
domestic inspection procedures at Nissan Motor  7201.T .  
    Nissan said earlier on Wednesday it had been informed that 
the ISO 9001 certification of its plants and those of affiliate 
Nissan Shatai  7222.T  had been revoked for production of 
Japan-bound vehicles.   urn:newsml:reuters.com:*:nL3N1NE25T    
    JIS-certified products account for about 40 percent of 
Hatano's sales by weight, Kobe Steel said. 
    Kobe Steel has an extensive role in global supply chains. It 
produces engine valve springs found in half the world's cars, 
according to its website. 
    Kobe shares have plunged nearly a quarter since news of the 
data tampering in early October. They fell 4 percent on 
Wednesday, versus a 1.6 percent drop in the Nikkei 225  .225 . 
 
 (Reporting by Yuka Obayashi; Writing by Aaron Sheldrick; 
Editing by Chang-Ran Kim and Himani Sarkar) 
 ((Ritsuko.Ando@reuters.com; +81 3 6441 1743; Reuters Messaging: 
ritsuko.ando.thomsonreuters.com@reuters.net)) 
 
Keywords: KOBE STEEL SCANDAL/

Recent news on Nissan Shatai

See all news