Hino Motors, Ltd. reported Tuesday an unconsolidated pretax loss of 15.4 billion yen for the first half of fiscal 1999 and a sales decline of 219.1 billion yen, down 1.8 percent from the same period last year.
The truck and bus affiliate of Toyota Motor Corp. posted an operating loss of 14.5 billion yen and a net loss of 17.9 billion yen due to the sluggish sales of trucks, especially larger trucks, in the domestic market and Asia, company officials said.
For fiscal 1999, which will end March 31, the automaker estimates its sales at 476.6 billion yen and an operating loss of 11.3 billion yen on an unconsolidated basis.
The company is hoping a recovery in the domestic economy and further restructuring efforts can push it into the black in fiscal 2000.
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