Hino Motors expects to post an extraordinary loss of approximately 60 billion yen due to inspection fraud scandal.
Hino Motors announced that it is expected to record an extraordinary loss of approximately 60 billion yen as compensation costs for customers due to fraudulent inspection data such as exhaust gas.
Hino Motors has been found to have submitted incorrect data on exhaust gas and fuel efficiency to the government for about 20 years, and shipments of some vehicle models such as trucks have been suspended.
On the other hand, the business environment deteriorated at the subsidiary in the United States due to soaring raw material prices, etc., and as a result of reviewing the company’s value, it is expected to record an extraordinary loss of about 15 billion yen.
As a result, the final profit and loss forecast for the financial results for this fiscal year has expanded from the previously announced deficit of 55 billion yen to a deficit of 128 billion yen.
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