Toyota truck arm Hino posts 70% drop in net profit amid data fraud

Economy Society

Toyota Motor Corp.'s truck arm Hino Motors Ltd. said Thursday that its net profit for the six months ending September slumped 70.4 percent from a year earlier to 3.48 billion yen ($24 million), as domestic sales were hit by a fraudulent emissions data reporting scandal. The repercussions of the data fraud are expected to spread beyond Japan, with two class action lawsuits filed in recent months in the United States and Australia. The origins of the scandal are said to go back some 20 years. President Satoshi Ogiso told a press conference that the company cannot currently estimate the true impa...

Kyodo News

Kyodo News Society