Hino Motors Ltd., the nation's biggest maker of heavy trucks, will hire 900 temporary workers starting this month as it predicts truck demand will increase in Asia.
"Truck sales in Asia are recovering," Hidenobu Teduka, a spokesman for the company, said Thursday. "Inventory liquidation has been almost over and we are increasing production."
Hino has forecast net income of ¥5 billion in the second half of the year ending in March compared with an expected ¥29 billion loss in the first half. Nikko Citigroup upgraded its rating on the truck maker to "hold" last month, citing higher earnings in the second half helped by stronger overseas demand.
"Asian economies will continue to improve," said Mitsushige Akino, who oversees the equivalent of $637 million at Tokyo-based Ichiyoshi Investment Management Co.
"Truck makers, like automakers, had slashed the number of employees to reduce inventories and now need to hire new workers."
The Yomiuri newspaper reported the news earlier.