Salem Radio Network News Tuesday, December 6, 2022

Business

Toyota unit Hino considers action against executives

TOKYO (Reuters) -Toyota Motor Corp’s truck- and bus-making unit Hino Motors is considering action against its executives over a long-running engine data scandal, Hino said on Friday, following a report it could claw back pay from former managers.

The Asahi Shimbun newspaper said the company had decided to seek the partial return of compensation from past managers, as well as cut pay of its current president and some other executives.

Three executives would resign to take responsibility, the Nikkei business daily reported separately, adding that President Satoshi Ogiso would remain.

The truckmaker said it would make an announcement on the steps it plans to take at 6:30 p.m. (0930 GMT), followed by a news conference by Ogiso an hour later.

In response to the Asahi report, Hino said in a statement earlier that it was considering the matter of management responsibility and planned to bring it up at a board meeting on Friday.

It did not elaborate.

Hino has been badly hit by the scandal, in which it has admitted falsifying data on some engines going back as far as 2003, at least a decade earlier than originally indicated. All told, about 640,000 vehicles have been affected, or more than five times the figure initially revealed.

Hino became a Toyota subsidiary in 2001 and nearly all Hino presidents since then have previously worked for Toyota.

(Reporting by David Dolan and Chang-Ran Kim; Editing by Sam Holmes)

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