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April 17, 2008, 12:19 a.m. EDT

Hino Motors to shutter California truck plant: report

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By MarketWatch

HONG KONG (MarketWatch) -- Hino Motors Ltd, a unit of the Toyota Group, will shutter its truck assembly plant in California, becoming the first Japanese truck maker to shutter a U.S. assembly line in recent times, according to a media report Thursday.

Hino /zigman2/quotes/209422954/delayed JP:7205 -3.67% will shutter its California production facility in July, a move that will halve its annual North American production capacity to 4,500 units, the Nikkei newspaper reported, without saying where it got the information.

/zigman2/quotes/209422954/delayed 7205 892.00, -34.00, -3.67%
JP:7205

Shares of Hino climbed 3.8% at midday in Tokyo Thursday.

Hino will transfer truck production from the California plant, which produced fewer than 5,000 vehicles last fiscal year, to its remaining U.S. vehicle-assembly line in West Virginia.

Hino's production of passenger car parts for parent Toyota /zigman2/quotes/200537742/composite TM -0.49% /zigman2/quotes/203803129/delayed JP:7203 -3.48% will continue at the California plant, the report said.

Production at Hino's truck line in Ontario will be unaffected.

Output at Hino's three North American production facilities fell 30% to about 6,000 vehicles in the fiscal year that ended March 31.

/zigman2/quotes/209422954/delayed
JP : Japan: Tokyo
¥ 892.00
-34.00 -3.67%
Volume: 3.74M
Feb. 28, 2020 3:00p
P/E Ratio
10.90
Dividend Yield
2.91%
Market Cap
¥512.04 billion
Rev. per Employee
¥60.20M
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/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 130.75
-0.65 -0.49%
Volume: 367,932
Feb. 28, 2020 6:30p
P/E Ratio
8.24
Dividend Yield
2.73%
Market Cap
$184.83 billion
Rev. per Employee
$737,463
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,127.00
-257.00 -3.48%
Volume: 10.62M
Feb. 28, 2020 3:00p
P/E Ratio
8.24
Dividend Yield
3.09%
Market Cap
¥20149.10 billion
Rev. per Employee
¥81.43M
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