Business Circle Worried about Corporate Japan's Damage from Fake Data Crisis (News)


Tokyo, Oct. 19 (Jiji Press)—Japanese business leaders have voiced their strong concerns that falsified product quality certification by Kobe Steel Ltd. and Nissan Motor Co. will undermine global trust in made-in-Japan goods.

"I think Kobe Steel has crossed the forbidden line as a manufacturer," Mimura Akio, chairman of the Japan Chamber of Commerce and Industry, told a press conference. "It's really regrettable," Mimura said.

The former Japanese steel industry leader met the press after European and US authorities launched investigations into the longtime misconduct at Kobe Steel.

At a separate news conference, Japan Securities Dealers Association Chairman Suzuki Shigeharu said, "A scandal at a large and famous company like Kobe Steel will damage the stock market and taint Japanese companies' reputation."

"It's crucial to identify the cause of the wrongdoing through thorough investigation and establish preventive measures," Iimori Tetsuo, chairman of the Trust Companies Association, told reporters.

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