Toyota and Daimler said to be near merger of truck units
The two agreed in May 2023 to merge the truck operations by the end of 2024, but in February 2024, the final deal was postponed indefinitely
22 April 2025 - 09:12
byMrinmay Dey
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Hino Motors Chief Executive Satoshi Ogiso, Toyota Motor President and Chief Executive Koji Sato, Daimler Truck Chief Executive Martin Daum and Mitsubishi Fuso Truck and Bus Corporation Chief Executive Karl Deppen at a news conference in Tokyo in May 2023.
Picture: REUTERS
Toyota Motor unit Hino Motors and Mitsubishi Fuso Truck and Bus, a subsidiary of Germany’s Daimler Truck, are moving to finalise a merger agreement, Nikkei Asia reported on Tuesday.
The two vehicle groups aim to establish a holding company for the truck units and list it on the Tokyo Stock Exchange’s Prime market in April 2026, the report stated, without disclosing its source.
The companiesagreed in May 2023 to merge the truck operationsby the end of 2024. In February 2024, the final deal was postponed indefinitely.
The companies are expected to finalise the merger agreement as early as May, Nikkei said, adding that an antitrust review by the Japan Fair Trade Commission is close to completion.
Post-transaction, a new holding company would fully own both Hino Motors and Mitsubishi Fuso, according to the report.
Toyota Motor and Daimler Truck did not immediately respond to Reuters requests for comment outside business hours.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Toyota and Daimler said to be near merger of truck units
The two agreed in May 2023 to merge the truck operations by the end of 2024, but in February 2024, the final deal was postponed indefinitely
Toyota Motor unit Hino Motors and Mitsubishi Fuso Truck and Bus, a subsidiary of Germany’s Daimler Truck, are moving to finalise a merger agreement, Nikkei Asia reported on Tuesday.
The two vehicle groups aim to establish a holding company for the truck units and list it on the Tokyo Stock Exchange’s Prime market in April 2026, the report stated, without disclosing its source.
The companies agreed in May 2023 to merge the truck operations by the end of 2024. In February 2024, the final deal was postponed indefinitely.
The companies are expected to finalise the merger agreement as early as May, Nikkei said, adding that an antitrust review by the Japan Fair Trade Commission is close to completion.
Post-transaction, a new holding company would fully own both Hino Motors and Mitsubishi Fuso, according to the report.
Toyota Motor and Daimler Truck did not immediately respond to Reuters requests for comment outside business hours.
Reuters
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