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Japanese Conglomerates Kobe Steel & Nissan Motor in New Scandals

Japanese Conglomerates Kobe Steel & Nissan Motor in New Scandals

Japanese conglomerates, Kobe Steel and Nissan Motor were uncovered with irregular business practices.   At least 60,000 Nissan vehicles were shipped after being inspected by unauthorised employees. The problem was discovered during onsite inspection by the Ministry of Transport.

” Kobe Steel & Nissan in New Scandal, Bad Business Practices Uncovered “

For Kobe Steel, the company admitted to selling products that had failed quality control tests, and thereafter falsifying the results.   More than 500 companies could be affected, including aircrafts, electronics, cars and bullet trains manufacturers, that have purchased products from Kobe Steel.

In the last decade,  Japanese firms had been struggling poor businesses and business practices.  Many firms had been affected including Toshiba, Olympus, Sharp and Sanyo.

Since 2009:

  • Sharp sold to Foxconn, Taiwanese electronics manufacturer in 2016
  • Toshiba massive accounting scandal in 2015
  • Olympus accounting scandal in 2011, a 13 year $1.7 billion fraud.
  • Sanyo sold to Panasonic in 2009

Source: Bloomberg, Japan Times, CNN

 

About Nissan Motor

Nissan Motor Co., Ltd. was established in Yokohama City, Kanagawa Prefecture in 1933.  Nissan Motor currently manufactures vehicles in 20 countries and areas around the world, including Japan.  Nissan offers products and services in more than 160 countries and areas worldwide.

Visit: Nissan Motor Corporation

 

About Kobe

Kobe Steel, Ltd. is one of Japan’s leading steelmakers,as well as a major supplier of aluminum and copper products. Other business segments consist of wholesale power supply, machinery, construction machinery, real estate, and electronic materials and other businesses.

The Kobe Steel Group is comprised of numerous consolidated and equity-valued companies in Japan, the Americas, Asia and Europe.  KOBELCO is the corporate logo mark and brand name of the Kobe Steel Group. Behind the KOBELCO mark is Kobe Steel’s commitment to excellence and quality.

The company was founded on 1st September 1905 and incorporated on 28th June 1911.

Visit: Kobelco

 


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