Refresh after ten minutes.
Refresh after ten minutes.
Akira Takeuchi, president of Japanese non-ferrous metal giant Mitsubishi Comprehensive Material Co., Ltd., admitted at a press conference on November 24 that the company's three subsidiaries, Mitsubishi Wire Industry, Mitsubishi Copper and Mitsubishi Aluminum, had falsified factory product technical parameters and apologized to the public.
At present, the number of companies purchasing Mitsubishi related unqualified products worldwide has increased to 274, involving aerospace, automobile manufacturing, machinery equipment and electronic equipment and other industries. Mitsubishi Wire Industry President Murata Hiro admitted that it is difficult to control whether the unqualified products are used by companies other than customers, so the number of affected companies may further increase in the future. Just the day before Mitsubishi Comprehensive Material Co., Ltd. President Akira Takeuchi admitted at a press conference that his subsidiaries had falsified product data, Mitsubishi Comprehensive Material announced that the company's subsidiary Mitsubishi Wire Industry modified the technical parameters of its factory rubber sealing products from April 2015 to September 2017 in order to meet the technical standards required by the company or customers. Some of the problematic products were used in airplanes, ships and cars.
Mitsubishi Comprehensive Material also announced that the company's other two subsidiaries, Mitsubishi Copper and Mitsubishi Aluminum, produced copper alloy and aluminum products were also found to have falsified factory product technical parameters.
It is understood that the number of companies purchasing Mitsubishi related unqualified products has increased to 274, involving aerospace, automobile manufacturing, machinery equipment and electronic equipment and other industries.
The world's two largest aircraft manufacturers, Airbus and Boeing, are also users of Mitsubishi Comprehensive Material. At present, whether the unqualified products were used in the company's products is still under urgent investigation. Rubber sealing products for hydraulic devices. Rubber sealing products for the hydraulic devices of ships' engines.
Outsiders questioned the behavior of an organization
Outsiders questioned the behavior of an organization
Toyota Motor, Honda Motor, Suzuki Motor and other large Japanese automobile manufacturers are also investigating whether the purchase and use of Mitsubishi material unqualified products. In addition, the Japanese media reported that Mitsubishi Wire Industry involved in data falsification was also used in the aircraft and ships of the Japanese Self-Defense Forces, mainly rubber sealing products for the aircraft and ship engine oil pressure devices.
Outsiders questioned the behavior of an organization
In addition, the Japanese media reported that Mitsubishi Wire Industry involved in data falsification was also used in the aircraft and ships of the Japanese Self-Defense Forces, mainly rubber sealing products for the aircraft and ship engine oil pressure devices.
Outsiders questioned the behavior of an organization
After the Mitsubishi Comprehensive Material product data falsification scandal was exposed, the company's handling of the falsification problem was widely questioned.
According to the announcement released by Mitsubishi Composite Materials, Mitsubishi Wire Industry first discovered the problem of data falsification in the company's internal investigation in February this year and reported it to the company's management in March. However, it was not until October 23rd that the shipment of problematic products was stopped.
However, after receiving the report on October 25, Mitsubishi Comprehensive Material, the parent company of Mitsubishi Wire Industry, did not make an announcement to the public until November 23, a month later. In this regard, the outside world generally suspected that the falsification of product data was organized by Mitsubishi Comprehensive Materials.
Previously, Kobe Steel Works had tampered with the technical parameters of its products, and hundreds of domestic and foreign companies in Japan were still dealing with the aftermath. It was reported that the East Japan Railway Company and the West Japan Railway Company were planning to ask for a huge sum of money to replace the parts. The US Department of Justice was also conducting a thorough investigation into the impact of the incident, and the possibility of a huge fine and compensation was not ruled out in the future.
Japanese Government Expresses Only "Regret" for Scandal
While the continuous scandals of falsifying product parameters by Japanese manufacturers had damaged the reputation of the Japanese manufacturing industry, the problems of industrial upgrading and the rigidity of the management system were also worth thinking about.
On the 24th, Mitsubishi Comprehensive Materials submitted an investigation report on the company's subsidiaries to the Ministry of Land and Transport and the Ministry of Economy, Trade and Industry.
The incident further damaged the reputation of the Japanese manufacturing industry, which was already in jeopardy recently. There is such a company on the New Third Board, and the annual income of slaughtering pigs is close to 1.4 billion RMB!
Shanghai Securities News
In the small town of Heilongjiang, Helen, 215 kilometers away from Bing City, there was a pig slaughterhouse listed on the New Third Board. The slaughterhouse only slaughtered pigs, and the annual income was close to 1.4 billion RMB. The net profit for many years was more than 100 million RMB. The slaughterhouse only had an old production line that had been used for more than a decade, but from the financial report, the slaughtering efficiency could reach up to three pigs per minute. This company was called Gongzhun Shares.
There were even more incredible data: Gongzhun Shares, with a single business, had achieved a gross profit margin far higher than Shuanghui, Yurun, and other industry predecessors. The three expense ratios were less than one-tenth of the peers. The company had 600 million RMB cash on its account all year round, and it did not do financial management and only took the current interest. But the boss could not even repay the loan.
Recently, a reporter from Shanghai Daily went to the location of Gongzhun Shares to investigate. The scene in front of him was far from a "big company" with annual income of more than 1 billion RMB. The factory's gates were locked, and there were very few people going in and out. The "Gongzhun" brand's market share and reputation in Helen's local farmer's market was also very different from the company's financial report. The reporter found many suppliers and customers of Gongzhun Shares, and they all denied the scale of business transactions stated in the financial report. The difference in the amount of business transactions was at least a few times, and at most, it was more than ten times. Some suppliers even reported that Gongzhun Shares had owed more than 1 million RMB, and many of Helen's local suppliers were not willing to deliver their goods. However, in the semi-annual report, the company's accounts payable was recorded as 0 RMB.
Large production value abandoned by securities companies
Buying pigs, butchering pigs, and selling meat. Although Gongzhun Shares was not an eye-catching industry, its financial report had always been "eye-catching." Since the company was listed on the New Third Board in 2014, its net profit was more than 100 million RMB, and its revenue was more than 1 billion RMB, and it was growing steadily. This kind of volume was very important to Helen.
Using the public data for 2015 as an example, Gongzhun Shares' annual report showed that the company's revenue was 1.196 billion RMB, and its net profit was close to 108 million RMB. Helen's regional GDP in 2015 was 12.4 billion RMB. That is to say, Gongzhun Shares "contributed" nearly one-tenth of Helen's total production value.
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
