Truck maker Hino Motors Ltd. will raise domestic prices Tuesday to absorb the rising cost of raw materials.
Prices on all models, including the Ranger and Profia trucks, will be boosted as much as 3 percent on average, Tokyo-based Hino said Monday.
Japanese automakers and truck makers anticipate higher materials costs will hurt profit in the business year ending next March.
Higher material costs will cut operating profit by ¥16 billion, Hino said April 24.
Hino expects net income will be little changed, at ¥22 billion this business year. Toyota Motor Corp. holds a 50 percent stake in Hino.
Isuzu Motors Ltd., Japan's largest maker of light-duty trucks, may also raise domestic vehicle prices, Naoki Ariizumi, a company spokesman, said Thursday.