Falling gold prices revive physical demand in key markets
Consumers in price sensitive regions such as India had been finding it difficult to cope with gold's rally in recent months.
Tractor maker Kubota Corp said on Wednesday it had falsified data for metal rolling components, joining other Japanese manufacturers which have admitted in the past year to faulty inspections or data manipulation.
The products were shipped to 85 steelmakers in Japan and abroad, the company said, but it added that there had been no impact on the quality of the components.
Kubota’s revenue from metal rolling components, used in production equipment at steel plants, totalled about 4.4 billion yen ($39 million) in the year ended in March.
Kobe Steel, Japan’s No.3 steelmaker, admitted in October that workers tampered with product specifications, while automakers such as Nissan and Subaru have said they did not comply with final inspection procedures. ($1 = 111.4900 yen) (Reporting by Makiko Yamazaki and Chang-Ran Kim Editing by Darren Schuettler)
