Shares of Toyota’s truck-manufacturer Hino plunged 16.8% after the company disclosed it had falsified emissions data, according to a report by FT on Monday.
- Hino stated that it had falsified diesel engine performance and fuel economy data for some of its vehicles made in Japan. The transport ministry stated it had planned to open a probe.
- The company, which has made sales of over 115,000 trucks and buses, stated it had halted new sales of the engines and vehicles ferrying them in Japan.
- Hino’s data manipulation scandal is the recent scandal to hit the nation’s auto industry.
- Analysts stated that Hino’s admission attracted attention on corporate governance loopholes for majority-owned subsidiaries listed on the Tokyo Stock Exchange.
The manipulation of data was discovered during a company probe into pre-shipment inspections for cars sold in Japan, after its failure to comply with US requirements for its vehicles sold in North America. Hino: TYO is down -16.76%