Toyota receives first corrective order for falsified test data
Japan's transport ministry has issued a corrective order to Toyota Motor Corporation, mandating improvements in its business practices following the discovery of improper vehicle testing procedures for seven additional models.
Japan's transport ministry has issued a corrective order to Toyota Motor Corporation, mandating improvements in its business practices following the discovery of improper vehicle testing procedures for seven additional models. Toyota Motor President Sato Koji on Wednesday was summoned and given the correction order by the Ministry of Land, Infrastructure, Transport and Tourism.
The issue first surfaced in June when it was revealed that Toyota had falsified performance test data on seven models to secure the necessary certification for mass production, which led to the suspension of shipments for three models that were already in production.
In early July, Toyota conducted an internal investigation and reported no wrongdoing beyond the initial seven models, Xinhua news agency reported.
However, a thorough investigation by the ministry, including an onsite inspection of Toyota's headquarters, uncovered further malpractice involving seven more models.
The corrective order requires Toyota to devise and implement fundamental measures within a month to prevent future occurrences, and the auto giant must provide quarterly progress reports to the ministry.
This marked the fourth time the ministry has issued a correction order under the Road Transport Vehicle Act amended in 2019. It was the first time for Toyota to have received such an order.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP+SWP: Rs 15,000 monthly SIP investment for 20 years and Rs 100,000 monthly income for 45 years; know how it is possible
Depositing large amounts of cash into your bank account may attract income tax department scrutiny; know under which conditions
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3.5 lakh, Rs 7 lakh, Rs 10.50 lakh, and Rs 14 lakh in 1-, 3-, and 5-year FDs
15x15x15 Formula: In how many years Rs 15,000 monthly SIP can grow to over Rs 1 crore; see calculations
09:15 PM IST