Hino Motors (JP:7205) has released an update.
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Hino Motors, Ltd. has reached a 55 million Canadian dollar settlement in lawsuits alleging historical misconduct related to their engines sold between 2010 and 2019. The settlement aims to minimize the impact on Hino’s business and will be recorded as a special loss in the company’s Q2 financial results for FY 2024. Hino has made no admission of the plaintiffs’ claims’ merit but believes the settlement is in the best interest of the company and its stakeholders.
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