There is no need to convince anyone about what honor is for the Japanese. The rules that followed the Samurai in their actions are perhaps not so popular nowadays, but there are cases when it is necessary to follow an ancient code.
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However, in order not to idealize the decision made recently at Mitsubishi Electric too much, it should be noted that the field of action in this particular case was small. Takeshi Sugiyama, the head of the Japanese giant who had to face the enormous image crisis that his company was facing, resigned.
Decades of irregularities
But what exactly are we talking about? About the results of a recently completed internal audit, which clearly shows that the company has for years falsified documentation related to the control of air conditioners and brake compressors in railway carriages. The aforementioned inspection showed that the whole procedure had been going on for decades, even from 1985.
As could be expected, the scandal was widely echoed not only in Japan. After all, Mitsubishi Electric is one of the giants of the industry, a company with an absolutely global reach, supplying billions of parts to the world markets every year.
- We wanted to apologize to everyone - said Sugiyama, who had stepped down. - After we got acquainted with the report, the only reasonable and possible decision was my resignation. As a company, we must now do everything we can to regain trust, but we will be working on this under new management - he added.
An honourable approach
There is currently no evidence that the previous authorities knew about what happened in the 80s and 90s, but in the context of recent events it has no meaning and the honorable approach to the subject has been received in a positive way. It is particularly visible on the market charts, where Mitsubishi Electric - just after the scandal saw the light of day - lost nearly 10 percent. However, it took only a few days after Sugiyama resigned for investors to look favorably at the company's shares again. It has not yet been possible to return to the level from before the scandal, but recently there have been increases of almost 2 percent.
The impact on the markets was therefore significant, but it simply could not be otherwise. After all, the case concerns one of the largest companies in the world, which in its portfolio has products as well as parts from various fields - from home electrics to components related to the industrial automation industry.
The last area interests us the most. Mitsubishi Electric operates there on a large scale and is one of the key suppliers. It is enough to mention only HMI panels, PLC modules or robots to understand what scale and importance for the industry we are discussing here. In the context of recent events, it is good to hear that the company decided to implement full transparency instead of sweeping - which would probably be much easier - under the rug.
