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ECONOMY

Companies with political clout not immune to data tampering scandal

  • November 28, 2017
  • , Tokyo Shimbun evening edition , p. 1
  • JMH Translation

By Yukihiko Nakazawa

 

Toray Industries is a reputed company that produced respected business leaders including Sadayuki Sakakibara, current head of Keidanren (the Japan Business Federation), the country’s most influential business lobby, who served as Toray president and chairman. Sakakibara is expected to face harsh criticism, as he called for stringent legal compliance by federation members in response to the string of recent data-tampering scandals by Kobe Steel and Mitsubishi Materials.

 

“It is extremely regrettable that a company that represents Japan’s finest committed such a dishonest act,” said Sakakibara in a press conference on Nov. 27 in response to the series of scandals involving Kobe Steel and others. “[These incidents] pose a serious problem to [the reputation of] Japanese quality, particularly in manufacturing,” he added in reproachful tones.

 

Keidanren  recently revised its corporate behavior charter and has been advocating that members adhere to the specified guidelines and practices in the charter as responsible corporate citizens. “I will continue to require that all members comply with the standards defined in the charter and promote effective corporate governance,” reiterated Sakakibara when asked to comment on companies’ adoption of measures to prevent a recurrence.

 

Keidanren is still reeling from the news revealing Toray’s data falsification scandal one day after the press conference. Although Sakakibara has to serve six more months in his current role, this latest turn of events may expedite his departure.

 

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