crime

Toray says it illegally gained global safety certificates for resin products

15 Comments

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15 Comments
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I assume that Japan's prosecutors will be investigating this.

9 ( +16 / -7 )

Again a decade of lies. Really have to doubt anything any certifications these companies tout as quality made in Japan.

4 ( +16 / -12 )

I assume that Japan's prosecutors will be investigating this

Or another bow will be accepted.

https://www.glasslewis.com/kobe-steel-scandal-rise-japan-trust-decline/

2 ( +11 / -9 )

""and Toray said it would set up a committee made up of lawyers to investigate the matter""

The Criminal is setting up an investigating committee and the Prosecutors will rubber stamp the outcome.

9 ( +16 / -7 )

Japan is not the same as it was in the 80s and 90s. Too many scandals coming out of Jgov and J-INC. This will only get worse as the economy crumbles and the leaders try to whitewash facts in order to save face.

-1 ( +11 / -12 )

and there we have it … “Case Closed”:

Toray said it would set up a committee made up of lawyers to investigate the matter.” -
4 ( +11 / -7 )

Lies within lies !

The samples submitted for approval were not actually the same resins that were used in the commercial sold products to 80 firms.

For 10 years !

It proves they could have made the correct safety approved resins but decided not to.

This completely defies the whole reason the standards are legally required.

Products that perhaps are in everyone's home and vehicles or workplace or hospitals etc.

Who will investigate Toray committee of lawyers ?

Obviously this company can't be trusted .

6 ( +13 / -7 )

The company will be facing multimillion-dollar lawsuits and monetary penalties in the US. Sell out Toray shares first thing Monday morning.

0 ( +8 / -8 )

@Meiyouwenti

You might want to rethink that sell order. This story broke on Feb 1st in and the market has already punished the stock (3402.T). Before the news it was trading at ¥724. As of Friday close, it was ¥664.2

7 ( +8 / -1 )

Some interesting reading from their website...

https://www.toray.com/global/sustainability/activity/compliance/culture.html

Compliance for quality

(1). Safe and satisfactory products

We must always act according to the law and in the interests and spirit of product safety to ensure that we continue to make safe and satisfactory products in response to requirements of our customers. Also, we must understand the requirements of our customers appropriately, and design, manufacture and provide products in response to such requirements. If a problem should arise, we must respond quickly.

(2). Quality data management

We must obtain, forward, store and confirm quality data in agreed ways, and correctly inform customers of the data as necessary to ensure that we continue to keep our promise to customers. We as a company do not permit quality data falsification.

4 ( +5 / -1 )

We sincerely apologize for any inconvenience caused by our UL registration issue.

-1 ( +4 / -5 )

Wow. One of Japan's (largely unsung but) highest flyers gets its own Dieselgate.

1 ( +5 / -4 )

The UL should immediately withdraw all of Toray's certifications

A company who can't be trusted to submit products properly - all their products should be considered suspect, until and if Toray can prove which products were properly submitted

0 ( +1 / -1 )

Does anyone know more about this case? Usually there are antedecents - reports of accusations ... etc before this kind of mea culpa presentation, but there doesn't seem to be any of that. Even the Japanese Wiki page on this company has nothing about standard-compliance issues.

0 ( +0 / -0 )

Seems Toray may be trying to ‘clear some of the air’ before a LARGER issue is announced @KazuakiShimazaki 4:10pm. Perhaps one may broaden their search to include recent U.S. consumer appliance product reviews as well news concerning major automobile and aircraft manufacturing issues and recalls ?

“Toray Industries Inc has admitted falsifying samples of some of its resin products to illegally acquire global safety certifications, with the conduct dating back at least 10 years. The samples of resins used in products such as vehicles…” -*

*- @KazuakiShimazaki 4:10pm: “Does anyone know more about this case? Usually there are antedecents - reports of accusations ... etc before this kind of mea culpa presentation, but there doesn't seem to be any of that.*

Well, you most likely will not find that information on the company’s website, or Wiki:

“Even the Japanese Wiki page on this company has nothing about standard-compliance issues.” -*

Would be interested in reading more specifics. Good luck in your continued endeavors.

0 ( +0 / -0 )

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