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Stock impact report

Japan's transport ministry orders Kobe Steel to improve plant management [Reuters]

KOBE STEEL SPON ADR (KBSTY) 
NASDAQ:AMEX Investor Relations: kobelco.co.jp/english/ir
Company Research Source: Reuters
Japan's transport ministry orders Kobe Steel to improve plant management | Reuters Reuters Staff 2 Min Read TOKYO (Reuters) - Japan’s transport ministry said on Friday it has ordered scandal-hit Kobe Steel Ltd ( 5406.T ) to improve management at one of its plants, as it struggles to restore confidence in its manufacturing following revelations of data falsification. Measures taken to prevent a recurrence of wrongdoing at Kobe Steel’s Daian plant in central Japan were inadequate, the transport ministry said in a statement, pointing to a lack of concrete steps in areas like the alleviation of pressure from head office and the training of inspection staff. “We will work quickly to plan and implement the measures as required by the transport ministry,” a Kobe Steel spokeswoman said. The ministry inspected the Daian plant last month because of its role in supplying components for the domestically built Mitsubishi Regional Jet (MRJ) passenger aircraft under development by Mitsubishi Heavy Show less Read more
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