February 27, 2018
Kobe Steel, Ltd.
We once again deeply apologize for the enormous amount of trouble we have caused to our customers, suppliers, shareholders and many others concerning the improper conduct of Kobe Steel, Ltd. and its group companies (hereinafter referred to as the Kobe Steel Group).
With regard to the improper conduct of the Kobe Steel Group, Kobe Steel established the Independent Investigation Committee (IIC), and the IIC has been undertaking a thorough investigation with the aim of evaluating the appropriateness and validity of the self-inspections and emergency audits conducted by the Kobe Steel Group; determining the direct causes of the improper conduct; identifying the background factors; and making proposals for remedial measures to prevent recurrence.
On December 21, 2017, Kobe Steel announced that it expected the IIC’s investigation should be completed around the end of February 2018. Due to the prospect of the IIC informing Kobe Steel of its investigation results, Kobe Steel plans to announce on March 6, 2018 the facts concerning the improper conduct of the Kobe Steel Group, the findings of the causes, measures to prevent recurrence and other matters, based in part on the investigation results of the IIC.