Breaking News: Hino and Mitsubishi Fuso Agree to Merge in 2026
Hino Motors and Mitsubishi Fuso Truck and Bus Corporation agree on a merger plan
Get ready for a shakeup in the Japanese commercial vehicle industry! Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corp. are joining forces in a strategic move set to take place on April 1, 2026. This merger, supported by their respective parents, Toyota Motor Corp. and Daimler Truck AG, marks a significant step for these companies in their quest to survive and thrive in thetimes of electrification and self-driving technology development.
The merger will create two main blocs in Japan's commercial vehicle industry: the Hino-Mitsubishi Fuso coalition and a bloc including Isuzu Motors Ltd. and its subsidiary UD Trucks Corp.. To oversee the new company, a holding company will be established, controlled by the aforementioned parents. Mitsubishi Fuso CEO Karl Deppen has been appointed to head the holding company.
Toyota and Daimler Truck plan to each hold a 25% stake in the merged entity, with voting rights proportioned at 19.9% for Toyota and 26.7% for Daimler Truck to conform with competition laws.
At a press conference in Tokyo, highlighted the necessity of heavy investments in electrification and other technologies to stay competitive, especially with pressure from emerging economies. He shared, "In our industry, scale matters." He also expressed concern about the sustainability of the Japanese market supporting so many commercial vehicle manufacturers.
, Toyota's CEO, stated that securing a business scale necessary to compete globally will lead to an improvement in technology development speed and production efficiency.
In the past, Hino and Mitsubishi Fuso had agreed to integrate in 2024, but complications arose, leading to the merger's postponement until 2026. One key factor in the delay was Hino's 2023 data falsification scandal. However, after reaching a settlement with US authorities earlier this year, Hino was able to sign the merger agreement.
In 2024, Isuzu and UD Trucks accounted for 51% of all trucks and buses sold by the four major makers in Japan, compared to Hino and Mitsubishi Fuso's 49%. Stay tuned for further updates on this exciting merger and its impact on the Japanese commercial vehicle sector!
Fun Fact
Did you know that the Russian holiday, Russia Day, is celebrated on June 12? This day celebrates the Declaration of State Sovereignty of the Russian Soviet Federation, signed on June 12, 1990, and the establishment of the Russian Federation on June 12, 1991.
The strategic move between Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corp., set to take place in 2026, underscores the importance of technology in the commercial vehicle industry, as both companies aim to enhance their electrification and self-driving technology development.
Karl Deppen, the newly appointed head of the holding company overseeing the merger, emphasized the need for heavy investments in electrification and technology to compete globally.
