Kobe Steel President Hiroya Kawasaki answers questions during a press conference in Tokyo on March 6, 2018. The scandal-hit Japanese steelmaker Kobe Steel President Kawasaki announced his resignation. / AFP / TORU YAMANAKA
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The chief executive of major Japanese steelmaker Kobe Steel is stepping down over a scandal that surfaced last year involving massive falsification of data from inspections of the company's products.Two directors at group companies were also dismissed.All directors, except for outside directors and auditors, were slapped with 10 percent to 50 percent pay cuts for a period ranging from one month to four months, the company said.Two executives involved in the misconduct neither reported it to the board nor took action to correct the wrongdoing, according to a company report released Tuesday.In October, Kobe Steel reported 525 cases of misconduct.
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