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Japan’s Mitsubishi Materials Reports Faked Quality Data


(Elaine Kurtenbach – Associated Press)

Mitsubishi Materials Corp., a maker of components used to make autos, aircraft and electricity generation equipment, apologized Friday for faked quality data by some of its subsidiaries.

Executives of the company bowed before reporters as they reported on the problem, which was announced Thursday during a public holiday.

The company’s share price plunged 11 per cent, ending the day down more than 8 per cent Friday.

Similar troubles with faked or unauthorized inspections have tarnished the image of other major manufacturers such as Nissan Motor Co., Subaru Corp. and Kobe Steel. Click here to read more.