Toyota Motor’s Hino Motors and Mitsubishi Fuso Truck and Bus, a subsidiary of Daimler Truck, are in the final stages of negotiating a merger agreement, according to a report by Nikkei Asia.
The two companies aim to create a new holding company for their truck operations, with plans to list the entity on the Tokyo Stock Exchange’s Prime market by April 2026.
The merger was initially agreed upon in May 2023, with both sides targeting completion by the end of 2024. However, in February 2024, the deal’s finalization was delayed indefinitely.
The companies are now expected to finalize the merger agreement as soon as May, with an antitrust review by the Japan Fair Trade Commission nearing completion, the report said. Following the transaction, the new holding company would fully own both Hino Motors and Mitsubishi Fuso.
