Hino Motors, a major truck manufacturer, has decided to sell part of the site of its headquarters plant, which is scheduled to complete the transfer of production within three years.
According to people involved, the site to be sold is about 100,000 square meters, which is one-third of the headquarters factory in Hino City, Tokyo.
Due to aging facilities, this plant is gradually transferring production functions such as trucks to a plant in Ibaraki Prefecture, and the transfer is scheduled to be completed in three years.
Until now, the company has considered using the site for its own use, but since it has decided to sell it this time, it will decide the buyer based on the intention of the local Hino city.
Hino Motors' final profit fell by more than 70% in the interim settlement of accounts until September this year due to the problem of fraudulent inspection data, and shipments of some models are still suspended.
As the impact of the fraud problem on management continues, it seems that the company is aiming to improve its financial situation by proceeding with the sale of assets.