Hino Motors and Mitsubishi Fuso Gear Up for Groundbreaking Merger

Hino Motors and Mitsubishi Fuso Truck & Bus, under Toyota and Daimler, are set to finalize a merger, creating a new holding company and planning a Prime market listing by April 2026. The completion awaits an antitrust review, with both companies aiming for an agreement by May.

Hino Motors, a Toyota Motor unit, and Mitsubishi Fuso Truck and Bus, affiliated with Germany's Daimler Truck, are on the verge of cementing a merger deal, according to a report by Nikkei Asia.

The merger aims to establish a holding company for their truck divisions, targeting a listing on the Tokyo Stock Exchange's Prime market by April 2026. Initially announced in May 2023, the merger was set to be finalized by the end of 2024, though it faced indefinite delays earlier this year.

The companies are pushing to finalize the agreement by May, with the Japan Fair Trade Commission nearing the end of its antitrust review. The new holding company is expected to own both Hino Motors and Mitsubishi Fuso outright. Toyota and Daimler have yet to comment on the progress of these negotiations.

(With inputs from agencies.)