(MENAFN) In the latest quality-assurance scandal of Japan, Toray Industries has discovered 149 cases of faked quality data at a materials-making subsidiary that extends to eight years.
The biggest carbon fiber combined materials maker in the world said falsification included products such as tire-strengthening cords sold to 13 clients by Toray Hybrid Cord Inc.
The company did not give names of affected clients, but it excluded US Boeing Co. which is a major carbon fiber client of Toray.
The problem has come out in July 2016, raising questions about the company's administration and why it had taken so long to confess.
After the declaration, Toray's shares have dropped over 8%, and decreased 4.8% in afternoon trade.
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