Kobe Steel to invest $471m to raise automotive steel output

Kobe Steel, Japan's third-biggest steelmaker, said on Wednesday it will invest 50-billion yen ($471-million) in domestic facilities to increase output of high-tensile steel to meet a growing need for lighter materials from automakers. It is the company's first major capital investment since it admitted to supplying products with falsified specifications to about 500 customers last year, throwing global supply chains into turmoil.