Toray, the world’s largest producer of carbon fiber yesterday, acknowledged that it had a counterfeit report.

 

Carbon fiber suppliers did not escape

 

Made in Japan and two Yi Ruo of fraud, the Toray giants are carbon fiber

Toray (TORAY) is a Tokyo based multinational enterprises, although only 91 years old, in Japan this hundred years enterprise everywhere state is not old enterprise, but it is engaged in organic synthesis, polymer chemistry and biochemistry of the high-tech business, such as the Toray area carbon fiber material is big brother.

 

Made in Japan and two Yi Ruo of fraud, the Toray giants are carbon fiber

Today, the official website of Toray is opened, and the apology box is popped out and the seriousness of the situation can be seen. Toray industry acknowledges that Toray Hybrid Cord, a subsidiary of its own tyres, has a data fraud. The internal survey found that 149 fraudulent practices took place during the eight years from 2008 to 2016, and the staff had handled the test data properly.

 

Toray acknowledges that 13 customers have been affected, but have not given a specific list of customers. But as an exclusive carbon fiber supplier for the new Boeing 777, Toray said Boeing’s products were not affected by the incident. But car customers can’t escape.

 

Made in Japan and two Yi Ruo of fraud, the Toray giants are carbon fiber

Toray’s stock prices fell 8.5% yesterday, the biggest drop in the stock market since May 2013.

 

The collective fall of Japanese manufacturing industry

 

The president of Toray admitted that he had discovered the counterfeiting behavior of the company and disposed of it last year. He didn’t plan to make it public. But a series of fraud scandals of Japanese enterprises happened recently.

 

In Toray, this is the fifth scandal that has erupted in Japan in a few weeks. There are Japanese nonferrous metals giant MITSUBISHI comprehensive material products admitted to falsifying data in this before, Nissan and Subaru with no qualifications for sitting vehicle final inspection, and in October the Kobe steel data tampering.

 

In fact, Japanese companies in recent more than 10 years occurred more than once exposure of financial fraud scandal, 2011 camera maker OLYMPUS for 20 years, Japan became the largest in the history of financial fraud, if not the British Woodford when he was CEO found the problem the company financial data after the dismissal by the board of directors, has triggered concern this, fraud may be buried in the water.

 

The OLYMPUS scandal is to cover up the company’s $1 billion 800 million loss, a sequelae to the bubble economy in Japan in the 90s of last century. Only more than 20 years ago, this sequelae has not been completely cured. It can be said that Japan’s economic miracle is the establishment of the Japanese enterprise in the quality of the fanatical pursuit of. A household name for Japanese enterprises can succeed in the world, depending on quality and word of mouth.

 

But now, from traditional steel making enterprises to sophisticated biotechnology companies, why is the most proud manufacturing industry in Japan collectively occupied?

 

John Gapper, a financial columnist, argues that the problem of Japanese enterprises is to blindly focus on the so-called product quality, but not to pursue digital fraud, too loose in management, not giving more empowerment to workers, instead of choosing problems of concealment and silence.