Hino Motors, which has submitted incorrect data on exhaust gas and fuel consumption to the government and is unable to ship some trucks and buses, posted a significant decrease in profits from April to last month.
Hino Motors discovered the problem of submitting illegal data on engine exhaust gas and fuel consumption to the government in March, and the certification required for car production was revoked, so some trucks and buses were released. It can no longer be shipped.
On the 28th, the company announced its financial results for the three months up to last month, and sales were 355.8 billion yen, up 3% from the same period of the previous year due to sales growth in Asia and elsewhere.
On the other hand, the final profit was 700 million yen, 88% less than the previous year, which was a significant decrease.
Due to the effects of fraud, domestic sales decreased by more than 20%, and compensation costs for business partners increased.
Managing Director Ichiro Hisada, who met online, said, "We apologize for the inconvenience caused to our stakeholders."
Regarding this fraud, an investigation committee of outside experts is investigating the cause and examining measures to prevent recurrence.
The report will be finalized next month, but the company says it has no prospect of resuming shipments of cars.