Japan’s Toray to hold news conference on data falsification at unit

28 Nov, 2017 9:37 am

TOKYO (Reuters) – Japan’s Toray Industries said on Tuesday it will hold a news conference regarding data falsification at a subsidiary, in what could be the latest in a series of quality-assurance scandals to hit Japanese manufacturers.

The major Japanese materials maker’s president, Akihiro Nikkaku, and the chief of automotive tire-related materials unit Toray Hybrid Cord Inc will attend the presser at 10:30 a.m. (0130 GMT).

The announcement follows a spate of compliance failings at Japanese manufacturers including Kobe Steel Ltd, Nissan Motor Co Ltd, Subaru Co Ltd and Mitsubishi Materials Corp.

Shares of Toray plunged more than 8 percent following the announcement.

Sadayuki Sakakibara, senior advisor of Toray Industries Inc, is the head of Japan’s influential Keidanren business lobby.

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