Mitsubishi Fuso and Hino Set to Merge as Daimler and Toyota Confirm Agreement

Japan/Germany- Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Ltd., and Toyota Motor Corporation have signed a final agreement to bring Mitsubishi Fuso and Hino Motors together under one company. This major move aims to make commercial vehicles (like trucks and buses) more efficient, advanced, and eco-friendly.

Mitsubishi Fuso and Hino will join forces as equals. They plan to work closely on designing, buying, and building vehicles. The goal is to improve how they operate and make Japanese commercial vehicles stronger in the global market.

A new holding company will be created and is expected to start in April 2026. This company will own 100% of both Mitsubishi Fuso and Hino. Daimler Truck and Toyota each plan to own 25% of this new company, showing their strong support for the partnership.

The holding company will be based in Tokyo, Japan, and Mr. Karl Deppen will be its CEO. The company also plans to be listed on the Prime Market of the Tokyo Stock Exchange. More details, like the name of the new company, will be shared in the coming months. The deal still needs to be approved by company boards, shareholders, and government authorities.

The four companies say they are working together because they all believe in making life better through better mobility. Commercial vehicles are important for everyday life, helping move people and goods. By working as one team, the companies want to solve key problems like reducing carbon emissions, improving transport systems, and developing new technologies like electric and hydrogen-powered trucks.

This partnership is expected to reduce costs, improve operations, and create a strong future for commercial vehicle businesses in Japan and across Asia. The new company will also focus on smart and green technologies, including Connected, Autonomous, Shared, and Electric vehicles.

Together, these companies are aiming to build a more sustainable, efficient, and competitive future for the truck and bus industry, not just in Japan but around the world.

Mr. Karl Deppen, CEO, Mitsubishi Fuso and designated CEO of new holding company, said, "Today is a great day for all our stakeholders. 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."

Mr. Satoshi Ogiso, CEO, Hino, said, "The collaboration of these four companies is truly 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."

Ms. Karin Rådström, CEO, Daimler Truck, said, "The now decided integration of Mitsubishi Fuso and Hino Motors is truly historic. We are bringing together two strong partners to form an even stronger company and to successfully 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."

Mr. Koji Sato, CEO, Toyota, said, "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."