Fuso-Hino merger to push through ‘soon’

MANILA: Daimler Truck and Toyota Motor Corporation have concluded the definitive agreements that will lead to the integration of Mitsubishi Fuso and Hino.

The new holding company that the two commercial vehicle marques shall establish will start its operations come April 2026.

Based on the agreed terms, Daimler Truck and Toyota will each aim to own 25 percent of the holding company and are set to cooperate in the areas of:

• Development
• Procurement
• Production

With an intention to be listed on the Prime Market of the Tokyo Stock Exchange, the soon-to-be-formed holding company (which will be based in Tokyo) is eyed to fully own Mitsubishi Fuso and Hino.

Mitsubishi Fuso’s Karl Deppen will serve as the holding company’s chief executive officer (CEO).

Further details about the partnership — including the scope, nature of collaboration, and name of the new holding firm — will be announced in the coming months.

The companies expressed firm belief that by putting the soon-to-be-formed holding company, they will be able to improve business efficiency — particularly in areas such as development, procurement and production.

They are also expecting to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.

" We are shaping the industry by bundling our strengths. With a strong new company, we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs in the future. I feel honored and excited to be the designated leader of the new company and am grateful for the trust and encouragement from Toyota and Daimler Truck to make it happen,” Deppen said.

 Hino CEO Satoshi Ogiso considers the collaboration of the four companies a “once-in-a-lifetime opportunity.”

“In addition to the business synergies, the synergistic effects arising from the meeting and blending of different cultures and environments are immeasurable. I am confident that we will become a strong and resilient team that empathizes with each other and contributes to society under the same shared aspirations. As a new commercial vehicle company rooted in Japan, we will work together to create an ever better future,” he added.

Meanwhile, Daimler Truck CEO Karin Rådström said the integration of Mitsubishi Fuso and Hino will shape the decarbonization of transportation.

“Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale ― and scale is key to win in the technological transformation of our industry. Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business, and I'm therefore convinced that he can bring the new company to the next level," he noted.

Lastly, Toyota CEO Koji Sato said that the upcoming merger is just the start of the journey.

“We believe that the future is for us to build together. Today's final agreement is not the goal but the starting line. Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together.”

Also read:

Fuso, Hino merger delayed due to ‘engine certification issues’

Fuso PH gets accolades at 2025 Daimler Truck RC SEA Awards

Hino reforms organizational climate to curb future scandals

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