Hino Motors Company and Mitsubishi Fuso Truck and Bus Corporation have resumed discussions regarding their merger plans, as reported by sources in Japan. The two commercial vehicle manufacturers had initially signed a Memorandum of Understanding in May 2023 to merge their operations under a single holding company. The goal was to create a globally competitive Japanese commercial vehicle manufacturer capable of competing with China’s rapidly growing commercial vehicle industry.
Initially scheduled for completion by the end of 2024, the merger was postponed indefinitely in early 2024. However, reports now suggest that the merger talks are back on track, with plans to establish a jointly-owned holding company and list it on the Tokyo stock exchange in April 2026.
Under the new merger plans, Hino and Mitsubishi Fuso will keep their global sales operations separate while integrating their R&D, production operations, and supply chains to enhance manufacturing efficiency and economies of scale. The details of the merger are expected to be officially released in May, following the completion of regulatory and legal processes.
Both companies have denied reaching a final agreement on the deal, including shareholdings and the timing of the listing. Hino delivered 125,556 commercial vehicles globally in 2024, primarily in Asia, while Mitsubishi Fuso’s parent company, Daimler Truck, reported 125,234 commercial vehicle sales through its Asia Truck division.
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