Hino is likely to miss its sales targets in Indonesia and Thailand this financial year because of slowing economic growth and increasing competition, its president told Reuters.

Hino, which is 50.1% owned by Toyota, still expects sales in its second- and third-largest markets outside Japan to grow year on year though growth is slowing, said Yasuhiko Ichihashi.

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He did not give specific details but Hino has projected sales of 38,200 vehicles in Indonesia for the fiscal year ending March 2014, up 14% year on year, and 24,800 vehicles in Thailand, an increase of 36%.

It forecast operating profit of JPY85bn (US$859m) this financial year.

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