Toyota’s truck arm Hino posts record net loss as data fraud bites


Toyota Motor Corp.'s truck arm Hino Motors Ltd. said Wednesday it posted a record net loss of 117.66 billion yen ($882 million) in fiscal 2022 for the third straight year of red ink, pressured by a special loss linked to an engine data falsification scandal.

The truck maker’s net loss widened from 84.73 billion yen the previous year as it booked an extraordinary loss of about 92.2 billion yen to cover compensation to its customers and suppliers and recall costs in relation to the data fabrication.

“We were pursuing more expansion than we could handle,” President Satoshi Ogiso said at an online...

Kyodo News

Kyodo News