Japanese automaker Toyota Motor’s truck unit Hino Motors and Mitsubishi Fuso Truck and Bus Corporation, a subsidiary of Germany’s Daimler Truck, are reportedly in the final stages of a long-anticipated merger, according to a report by Nikkei Asia.
The two companies are expected to formalise a merger agreement as early as May 2025, following a delay announced in early 2024. If successful, the merger would establish a new holding company that will own both Hino Motors and Mitsubishi Fuso, with plans to list the entity on the Tokyo Stock Exchange’s Prime Market by April 2026.
The original agreement to integrate the truck operations was announced in May 2023, with a target completion date by the end of 2024. However, the timeline was pushed back indefinitely in February 2024 due to undisclosed reasons.
The Nikkei report noted that the merger is now gaining momentum, with the antitrust review by the Japan Fair Trade Commission nearing completion. The holding company structure is designed to strengthen the companies’ competitiveness in the commercial vehicle sector by pooling resources in technology, electrification, and global supply chains.
Neither Toyota nor Daimler Truck have responded publicly to the latest reports as of press time.
If finalised, the move would mark a significant shift in Japan’s truck manufacturing landscape, consolidating two of its major players in response to industry challenges including rising costs, decarbonisation targets, and growing competition from emerging markets.–REUTERS
