Hitachi Chemical in Second Falsification Scandal The Stock Price Tumbled Nearly 8%.
Following the data fraud incidents of several major Japanese companies, informed sources revealed that Hitachi Chemicals (4217-JP) of Hitachi’s data in the semiconductor materials testing has been fraudulent, and semiconductor products may be affected. Hitachi’s share price today (29 The day fell by nearly 14% and closed down nearly 8%.
It is unclear whether there is a forgery, but the possibility of a large-scale recall is small, and most customers usually conduct their own quality checks. Shigeki Okazaki, an analyst at Nomura Securities, said: “Therefore, the actual packaging materials may not have significant quality problems.”
Hitachi Chemical said in a statement that an external expert committee is investigating the issue and the company will announce the results as soon as possible.
Materials produced by Hitachi Chemicals are used to protect wafers from scratches and debris. According to Okazaki, an analyst at Nomura Securities, Hitachi Chemical is the world’s second-largest producer of such materials, with a market share of 17%, second only to Sumitomo Bakelite’s 20%. At the same time, he also pointed out that packaging materials accounted for more than 10% of Hitachi Chemical‘s core business profit.
The Tokyo Stock Exchange also issued a warning to investors on the issue on Monday (29th).
The company’s stock fell, with a market value loss of about 20 billion yen ($180 million), which is aggravating in the near term. This month alone, the stock fell by about 28%.
However, this is not the first time. Hitachi Chemical admitted in June that the company discovered data forgery in the quality test of industrial lead-acid batteries, affecting about 500 companies and about 60,000 products.
Japanese manufacturers that have recently fallen into data fraud include Kobe Steel, which has acknowledged data fraud for nearly 50 years this year. Both Yulon Motor (7201-JP) and Subaru Motor (7270-JP) acknowledged the misconduct during the inspection process.
In addition, KYB (7242-JP), a manufacturer of seismic shock absorbers, also admitted to data fraud in earthquake dampers this month. 900 buildings across Japan were affected, including famous places such as Tokyo Station and Skytree.