November 10, 2017
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 regarding the improper conduct of Kobe Steel, Ltd. and its group companies.
We established the Quality Issue Investigation Committee after the improper conduct in the Kobe Steel Group was revealed. Since then, the business units have conducted self-inspections, headquarters have conducted an emergency audit, and the outside law firm has conducted an investigation on facts related to the improper conduct. Having reviewed the findings from these investigations, we have prepared the “Report on the investigation into the causes of the Kobe Steel Group’s inappropriate conducts and on measures to prevent recurrence” (hereinafter referred to as the “Report”) and submitted it to the Ministry of Economy, Trade and Industry.
Attached herewith is a translation of the Report.
As we stated in our press release dated October 26, 2017, the Independent Investigation Committee, which consists of a group of independent members, has taken the role of reevaluating validity and appropriateness of the methods that were applied in the self-inspections and the emergency audit conducted by the Kobe Steel Group as well as of analyzing the causes and the most effective remedial measures. We will incorporate the findings to be reported by the Independent Investigation Committee in our deliberations of actions to be taken and reflect the Committee’s findings and advice in formulating our ultimate preventive measures.