Kobe Steel president to quit after scandal

TOKYO: Kobe Steel Ltd president Hiroya Kawasaki will resign after Japan’s thirdbiggest steelmaker said an independent investigation into its faked data scandal found further instances of misconduct. Kawasaki, 63, will step down on April 1 and his successor will be selected in coming days, said the company yesterday. Kobe’s executive vice-president and chief of its aluminium and copper unit, Akira Kaneko, will also quit, while the post of executive chairman, which Kawasaki also holds, is to be abolished.