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Kobe Steel says 500 companies received products with false quality data

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Kobe Steel says 500 companies received products with false quality data

Kobe Steel Ltd. said about 500 companies had been affected by false quality certification data for its aluminum, copper, iron powder and steel products, and company CEO Hiroya Kawasaki said it would pay any costs, Reuters reported.

Boeing, the world's biggest maker of passenger jets, received some of the falsely certified products, Reuters also confirmed, citing a source with knowledge of the matter.

The latest admission by Kobe Steel sent the shares of the discredited company plummeting again after they had stabilized Oct. 12. They closed 8.73% lower Oct. 13, at ¥805 per share, down 40% in the week.

As of Oct. 12, US$1 was equivalent to ¥112.30.