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Toyo Tire & Rubber faces mounting financial woes over earthquake devices for buildings based on fraudulent product data

By Takehiko Kumakura ( February 16, 2016, 05:47 GMT | Insight) -- Toyo Tire & Rubber faces mounting financial woes in the aftermath of a recent scandal involving the sale of substandard devices — based on fabricated product data — designed to absorb the impact of an earthquake on buildings. The Osaka-based company, which has posted extraordinary losses linked with the incident for its latest fiscal year, expects the amount to rise as it continues to provide repair and replacements.Toyo Tire & Rubber faces mounting financial woes in the aftermath of a recent scandal involving the sale of substandard devices — based on fabricated product data — designed to absorb the impact of an earthquake on buildings. The Osaka-based company, which has posted extraordinary losses linked with the incident for its latest fiscal year, expects the amount to rise as it continues to provide repair and replacements....

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