On 23 June Toyo Tire & Rubber Co., Ltd. chairman Akira Nobuki resigned and executive corporate officer Tetsuya Kuze was demoted in order to take responsibility for Toyo Chemical Industrial Products Co., Ltd.’s sale of non-compliant seismic isolation rubber products. Four more executives announced their retirement. All the personnel changes take effect from 1 July 2015.
90 more buildings in Japan were constructed with earthquake shock absorption devices that did not meet certification standards. According to The Japan Times, this brings the latest figure brings the total to 145. The report also quotes Toyo as saying four employees may have been involved in falsifying performance data on the quake-absorbing rubber equipment.
Toyo Tire & Rubber Co.’s share plummeted by the most in four years this week after the company revealed that a rubber product it sold as a building material for protecting against earthquakes failed to meet the necessary certification. The news, which was released in an official statement on 13 March, revealed that that its […]
