The logo of Kobe Steel at the group's Tokyo headquarters building in Tokyo on Tuesday. Kobe Steel admitted on Sunday that staff at several plants had falsified metals product data for years. The company does not see a problem with the safety of the product, according to Mr Nishimura. At Friday’s close,Kobe Steel had a market value of 498 billion yen ($4.4 billion); by Tuesday that was down to 389 billion yen and it fell further to about 313 billion yen on Wednesday. Iron ore powder is mainly used in making automobile components, according to Kobe Steel.

Source: Bangkok Post October 11, 2017 03:56 UTC