Japanese authorities inspect Toyota HQ over certification irregularities
04/06/2024 03:11
TOKYO, June 4 (Reuters) - Officials from Japan's
transport ministry launched an on-site investigation at Toyota
Motor's 7203.T headquarters on Tuesday after irregularities
were found in its applications to certify certain models.
The widening fallout over vehicle certification tests stem
from a safety test scandal at Toyota's Daihatsu compact car unit
and has spread to other Japanese automakers.
But Toyota, which has long prided itself on its reputation
for safety and reliability, was the only automaker to undergo an
on-site inspection.
Japan's transport ministry had announced plans to carry out
the inspection a day earlier, when it said Toyota, Mazda
7261.T , Honda 7267.T , Suzuki 7269.T and Yamaha Motor
7272.T were found to have submitted either flawed or
manipulated data when applying for certification of vehicles.
Toyota chairman Akio Toyoda, the grandson of the automaker's
founder, apologised to shareholders, car fans and other
stakeholders at a press conference on Monday.
"From a compliance standpoint, we think further
strengthening of governance will be needed going forward,"
analysts at Goldman Sachs wrote in a note to clients.
Toyota's shares were down 1.1% on Tuesday morning, extending
Monday's 1.8% loss. Those of Honda dropped 2.3%. Suzuki's and
Mazda's shares both rose 0.9%.
Toyota and Mazda said on Monday they had both halted
shipments of some models.
(Reporting by Daniel Leussink and Maki Shiraki; Editing by
David Dolan and Edwina Gibbs)
((daniel.leussink@thomsonreuters.com; Twitter:
@danielleussink;))