💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Toyota says aluminum plates from Kobe Steel meet standards

Published 10/18/2017, 11:08 PM
Updated 10/18/2017, 11:10 PM
© Reuters. FILE PHOTO: A man walks past the signboard of Kobe Steel at the group's Tokyo headquarters in Tokyo
5406
-
7203
-

TOKYO (Reuters) - Toyota Motor Corp (T:7203) on Thursday said that it had confirmed that aluminum plates supplied by Kobe Steel Ltd (T:5406) with falsified quality data which were used in parts for some of the Japanese automaker's vehicles had met safety and durability standards.

In a statement, Toyota said that it was working to identify whether non-aluminum products supplied by Kobe Steel, which are used in the automakers' Toyota- and Lexus-branded vehicles, will also meet the standards.

Kobe Steel earlier this month admitted that it had falsified data on product quality and specifications for goods supplied to around 500 customers, rocking supply chains around the world in a fresh blow to Japan's reputation as a high-quality manufacturer.

© Reuters. FILE PHOTO: A man walks past the signboard of Kobe Steel at the group's Tokyo headquarters in Tokyo

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.