AAA weekly


Hino Motors’ Global Financial Results in FY 2022

Hino Motors’ fiscal year 2022 results announced in April 2023 showed consolidated sales of 1.5 trillion JPY, an increase of 3.3% from the previous year, and operating income of 17.4 billion JPY, a decrease of 48.5%. In addition to the decline due to the coronavirus pandemic, the company suffered a certification fraud related to engine exhaust gas and fuel efficiency tests in March 2022, resulting in a net loss of 117.7 billion JPY, exceeding the previous year’s record low of 84.7 billion yen.

In terms of unit sales, domestic sales in fiscal 2022 decreased by 37.8% from the previous year to 36,167 units, which was significantly lower than the previous year due to a shortage of semiconductors and the impact of the above-mentioned certification fraud. Overseas, sales increased by 10.3% year-on-year to 108,447 units due to strengthened sales activities centered on Asia. Although sales increased in Asia, North America, and Africa, sales decreased in Japan, Central and South America, Oceania, the Middle East and Europe, resulting in global sales of 144,614 units.

Graph: Hino Motors: Consolidated Sales & Operating Margin (FY 2015-2022)Graph: Hino Motors: Factors Influencing Consolidated Operating Income (FY 2022)
Please log in or subscribe to AAA weekly to view the rest of this report.
Free trial subscriptions are available!