According to a press release by Tokyo-based Kobe Steel, one of the biggest steelmakers of Japan, Kobe Steel, Ltd has discovered that in its Aluminum & Copper Business, including group companies, a portion of the products traded with customers did not comply with the product specifications which were agreed between the company and its customers. Data in inspection certificates had been improperly rewritten etc., and the products were shipped as having met the specifications concerned (hereinafter referred to as "improper conduct").
According to Reuters, Kobe Steel shares slumped another 17 percent on Wednesday morning following a 22 percent fall the previous day.
According to media reports, clients of Kobe Steel like automakers including Toyota Motor and Honda Motor and aircraft companies including Boeing and Mitsubishi Heavy Industry were investigating whether their products contain materials from Kobe.