Tokyo — Kobe Steel said on Tuesday that its CEO will step down to take responsibility for a widespread data fraud scandal, although doubts remain over a corporate culture mired in malfeasance and the possibility of future fines. Japan’s third-largest steel maker, which supplies steel parts to manufacturers of cars, planes and trains around the world, admitted last year to supplying products with falsified specifications to about 500 customers, throwing global supply chains into turmoil. Kobe Steel, in announcing the results from a four-month-long investigation by an external committee, said it found a new case of impropriety affecting a total of more than 600 clients. Hiroya Kawasaki will resign as CEO and chair on April 1, with his successor to be decided at a board meeting to be held soon, the company said. "We discovered that inappropriate actions were widespread, and were carried out with the knowledge and involvement of many, including management," it said. "Considering the mul...
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