TOKYO (Reuters) – Mitsubishi Materials Corp (5711.T) saw its stock fall as much as 11 percent on Friday after it said three subsidiaries had falsified product data, marking the latest in a series of quality assurance scandals involving Japanese manufacturers.
Mitsubishi Materials said inspection data was falsified on parts used in aircraft, automobiles and industrial machinery, with potentially more than 250 customers affected.
The admission follows a spate of compliance failings at Japanese manufacturers including Kobe Steel Ltd (5406.T), Nissan Motor Co Ltd (7201.T) and Subaru Co Ltd (9778.T).
Minister of Economy, Trade and Industry Hiroshige Seko on Friday said the latest misconduct was “a betrayal of trust in Japanese manufacturing,” pointing to the amount of time Mitsubishi Materials took to reveal the wrongdoing.
Mitsubishi Materials said data falsification at subsidiary Mitsubishi Cable Industries Ltd [MTCBL.UL] was discovered as far back as February.
Other manufacturers such as Boeing Co (BA.N), Toyota Motor Corp (7203.T), Honda Motor Co Ltd (7267.T), Mitsubishi Heavy Industries Ltd (7011.T) and Nissan said they were looking into the issue, company spokespeople confirmed.
The news comes after Kobe Steel, Japan’s third-biggest steelmaker, admitted in October that workers had tampered with product specifications, forcing companies around the world to check the safety of their products.
Mitsubishi Materials plans to hold a news conference at 0630 GMT.
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