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Shares of Japanese Automakers Plunge Amid False Data Scandal




Shares of major Japanese automakers fell significantly last week after the country's transport ministry revealed false data in vehicle certification. Toyota's stock dropped 5.4%, losing $15.62 billion in market value. Mazda saw a 7.7% decline, losing $511.8 million. Honda, Suzuki, and Yamaha also experienced stock drops. 



The Ministry of Land, Infrastructure, Transport and Tourism's inspection found irregularities in applications from these automakers. Toyota halted shipments of three models, and Mazda suspended two models. Despite the scandal, stocks of these companies showed signs of recovery on Monday, with Toyota, Honda, and Mazda up by over 1%. 





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