Business

Should You Worry About Faulty Metals in Your Car?

Should You Worry About Faulty Metals in Your Car?

Many drivers are wondering and anxious following an admission by Kobe Steel Ltd., one of Japan's oldest manufacturers, that it falsified data on the strength and durability of aluminum and copper products used in cars, trains, planes and rockets.

According to the company, the fabrications might have started a decade ago and could have affected products sent to as many as 200 companies.

Aluminum is widely used in cars, planes and high-speed trains in Japan which use the light-weight metal to increase fuel efficiency.

Kobe Steel's probe has so far found that data were fabricated for about 19,300 tonnes of aluminium products, 2,200 tonnes of copper products and 19,400 units of aluminium castings and forgings that were shipped to clients between September 2016 through August 2017.

Smaller Japanese automaker Subaru said that it used Kobe Steel products not only for vehicles sold to retail customers but also in aircraft.

The false data supplied to automakers was meant to make metals look like they met clients' quality standards.

The admission from the steel and aluminium maker follows scandals involving falsified data at household names such as Nissan Motor, Mitsubishi Motors and Takata, which filed for bankruptcy earlier this year.

More news: Long Beach firefighters race to assist Canyon Fire 2's first responders
More news: White House Releases Extensive List Of Immigration Policy Demands
More news: Richard Thaler awarded Economics Nobel

General apprehension greeted the news and investors reacted swiftly as shares in Kobe Steel dived by more than a fifth after the company's admission to faking data about the quality of its products.

Toyota called the revelations a "grave issue", and said it was making checks on where the components were used and what effect they have on products using them. Nissan Motor and Mitsubishi are also top customers of Kobe Steel and said they are checking whether their vehicles are affected.

Mitsubishi Heavy Industries spokesman Genki Ono said Kobe Steel aluminium was used in the MRJ regional jet as well as the H-IIA rocket, which was launched by Japan Aerospace Exploration Agency on Tuesday for a satellite.

Boeing also could be impacted through another company, Japan's IHI produces some engines for the USA aircraft giant and also uses some Kobe Steel products.

A rocket it launched Tuesday reportedly had materials sourced from Kobe Steel. Kobe Steel's aluminum and copper operations account for about 20 percent of total sales, according to data for the quarter ended June 30. "If the aluminium business doesn't work out well, I question where the company can make money", given that profitability at the mainstay steel business remained low, he said.

And this isn't the only scandal that's been coming out of Japan as of late.


  • Cowboys owner Jerry Jones says players 'disrespecting flag' won't play

    Cowboys owner Jerry Jones says players 'disrespecting flag' won't play

    FRISCO, Texas - Dallas Cowboys coach Jason Garrett has not had any discussions with Jerry Jones regarding the owner and general manager's comments Sunday that players "disrespecting the flag" would not play. "If there's anything that is disrespectful to the flag, then we will not play", Jones said Sunday.
    JeM top terrorist killed in Kashmir

    JeM top terrorist killed in Kashmir

    The police said that Khalid was an A++ category top-ranking terrorist and carried a cash reward of almost Rs 7 lakh. Identified as Khalid, he was the operational head and master mind of the attack on the BSF camp attack.
    Watch the first teaser for JJ Abrams' new series

    Watch the first teaser for JJ Abrams' new series "Castle Rock"

    The show is being written by Sam Shaw and Dustin Thomason, and is said to be done in the spirit of King's work. The teaser opened with a scene of Andre Holland's attorney Henry Deaver looking around the city of Maine.
  • Joel Embiid receives max contract after playing 31 games in 2 seasons

    Joel Embiid receives max contract after playing 31 games in 2 seasons

    Sixers coach Brett Brown saw a difference in his team during the time Embiid was available last season and sees plenty of upside. But the flashes of brilliance have convinced Colangelo and ownership that Embiid was worth the risk.
    Blade Runner 2049 ends weekend slightly up on original box office estimates

    Blade Runner 2049 ends weekend slightly up on original box office estimates

    Based on the Hasbro toys and TV series, the movie's voice cast includes Emily Blunt , Kristin Chenoweth, Uzo Aduba, and Sia. Warning: There are SPOILERS ahead for Blade Runner 2049 . "We did well in the major and high-profile markets", he said.
    Tropical Storm Ophelia develops in Atlantic, no threat to US

    Tropical Storm Ophelia develops in Atlantic, no threat to US

    The fast moving hurricane that hit Category 2 winds at one point, should have lost steam as it moves through the Tennessee Valley. Heavy rainfall and storm surge flooding continued to be a danger across the region, the National Hurricane Centre said .
  • Zuckerberg taps VR to detail relief efforts in Puerto Rico

    Zuckerberg taps VR to detail relief efforts in Puerto Rico

    Facebook uses artificial intelligence to develop "population maps" to offer satellite imagery of a specific area. The Puerto Rico locations that Zuckerberg chose for showcasing Facebook Spaces capabilities was a little weird .
    Gasoline prices falling to pre-hurricane levels

    Gasoline prices falling to pre-hurricane levels

    AAA reports the lowest average price can be found in the Saginaw-Bay City-Midland area where it's about $2.30 a gallon. Nebraska's average slipped 4 cents in the past week to $2.42, while Iowa was down 3 cents to $2.42, AAA reported.
    Don't Expect Any New Windows Phone Hardware, Features

    Don't Expect Any New Windows Phone Hardware, Features

    Unfortunately, it will have to find another way to break into iOS ecosystem that doesn't offer any interference. If you haven't been, you can manually upgrade your machine to a newer version here by clicking "Update now".
  • Star-studded Argentina staring into the abyss ahead of crunch Ecuador showdown

    Star-studded Argentina staring into the abyss ahead of crunch Ecuador showdown

    Argentina could even pull-off an incredible comeback and qualify automatically if a few results in their group swing their way. In South America qualification, the last match of Argentina was against Peru which was hosted at Argentina's home venue.
    Iceland becomes smallest country to qualify for World Cup

    Iceland becomes smallest country to qualify for World Cup

    Iceland coach Heimir Hallgrimsson was in disbelief after his team qualified for the 2018 World Cup with a 2-0 win over Kosovo . Any other result puts it in jeopardy of missing the World Cup for the first time since 1970.
    12 die as boat carrying Rohingya refugees capsizes off Bangladesh

    12 die as boat carrying Rohingya refugees capsizes off Bangladesh

    It cited their reasons as "livelihood difficulties", health problems, a "belief" of insecurity and fear of becoming a minority. Myanmar leader Aung San Suu Kyi has said that her NLD government is doing its best to protect everyone in the Rakhine state.