Hino, Mitsubishi Fuso Sign Merger Deal

Tokyo, June 10 (Jiji Press)--Japanese truck makers Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corp. said Tuesday that they have signed an agreement to merge their operations on April 1, 2026.

Hino and Mitsubishi Fuso will join forces for survival with the support of their respective parents, Toyota Motor Corp. and Daimler Truck AG, at a time when commercial vehicle makers are stepping up the development of electrification and self-driving technologies.

Japan's commercial vehicle industry will realign into two blocs: the Hino-Mitsubishi Fuso coalition and a bloc comprising Isuzu Motors Ltd. and subsidiary UD Trucks Corp.

Toyota and Daimler Truck will set up a holding company to control Hino and Mitsubishi Fuso. The holding company will be headed by Mitsubishi Fuso CEO Karl Deppen.

Both Toyota and Daimler Truck plan to hold a 25 pct stake each in the new company, with the proportion of voting rights standing at 19.9 pct for Toyota and 26.7 pct for Daimler Truck to conform with competition laws.

[Copyright The Jiji Press, Ltd.]