The theft was announced by Toyota Boshoku which said it had discovered “fraudulent payment directions from a malicious third party” that resulted in a loss of about ¥4 billion ($A54m).
Automotive News Europe reported that the scam took place on August 14. The subsidiary, which supplies parts and components including seats and vehicle interiors, has operations around the world.
It closed its Australian facility in Melbourne in October 2017, concurrent with the end of local production of the Toyota Camry and Aurion, after starting operations in 2002.
In a statement, the company said: “We are devoting our utmost efforts to procedures for securing/recovering the leaked funds.”
Toyota Boshoku ranks 23rd on the Automotive News list of top 100 global suppliers, with worldwide sales to auto-makers of $US10.15 billion in 2018.
The company said that it “recognised the likelihood” that the payments were the result of criminal activity. It employed a team of legal professionals that reported the loss to local investigating authorities.
The company said it is “co-operating in all aspects of the investigation”.
It said it would account for the losses in its year-end financial statements if necessary, but declined to provide additional details.
By Neil Dowling
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