Update on Nissan data falsification scandal
We had previously reported on the data falsification scandal that had plagued Nissan Motors. The fallout for the company has continued with the company losing internationally recognized ISO 9001 certificates on quality management for domestic production at all six of its domestic plants. As reported in our previous update, Nissan had stopped domestic production last month at these plants but this has since been restarted. Whilst the loss of domestic certification does not affect Nissan's certification for production for overseas markets or its ability to continue to produce vehicles, it does bring with it additional reputational detriment. The company is reportedly prioritizing regaining the ISO certification as part of its corporate image rehabilitation efforts.
Japanese regulators continue to tackle cybercrime in the cryptocurrency world
Continuing on from our November update regarding the arrest of the head of an online cryptocurrency exchange, Japan's technology industry appears to be increasingly in the corporate crime spotlight. Earlier this month, the president of PEZY Computing, Motoaki Saito and its director of business development, Daisuke Suzuki, were arrested on suspicion of fraud. The company is known for having the fourth fastest supercomputing system in the world. Saito and Suzuki have been accused by the Tokyo District Public Prosecutors Office of illegally receiving subsidies (US$3.8 million) from the New Energy and Industrial Technology Development Organization (run by the Ministry of Economy Trade and Industry) by inflating PEZY Computing's expenses. The revelation is particularly interesting given Mr Saito's fame in the industry and the increasing rivalry between Japan, China and the United States in developing supercomputers.
Data manipulation in Japan's manufacturing industry
In another blow to Japan's manufacturing industry, yet another one of its major companies has admitted to data manipulation. Toray Industries Inc, announced that its wholly owned subsidiary had falsified data for tire materials and other products which were shipped to 13 clients. The falsification occurred between April 2008 and July 2016 at Toray Hybrid Cord Inc., and had actually been detected in July 2016. Despite remedial steps being taken such as the replacement of Toray's quality assurance office chief and the creation of a system involving multiple inspectors the falsification was left undisclosed until last month. The company has since also set up an investigation committee including external experts to report back by year end. There is no word yet on government action.