Toyota and Daimler Conclude Merger of Subsidiaries Hino and Mitsubishi Fuso
Deal News | Jun 11, 2025 | EIN
Toyota Motor Corp. and Daimler Truck Holding AG are set to complete the merger of their subsidiaries, Hino Motors Ltd. and Mitsubishi Fuso Truck & Bus, following an agreement first initiated in 2023. The merger aims to enhance profitability and innovate in response to demands for electrification and stricter emission standards. By April 2026, both companies will support a new holding company, each owning 25% of its shares. Hino will also issue new shares and transfer its Hamura plant to Toyota for 150 billion yen, approximately $1 billion. This strategic move tackles industry challenges such as labor shortages, new environmental regulations, and the high costs of technology development, allowing both companies to consolidate resources and accelerate innovation.
Sectors
- Automotive Manufacturing
- Commercial Vehicles
- Technology Development
Geography
- Japan – Primary location of Toyota Motor Corp. and Hino Motors Ltd., involved in the merger.
- Germany – Primary location of Daimler Truck Holding AG and its subsidiary Mitsubishi Fuso, involved in the merger.
Industry
- Automotive Manufacturing – The primary industry involved in the merger, focusing on the production of trucks and buses through subsidiaries Hino Motors and Mitsubishi Fuso.
- Commercial Vehicles – Relevant due to the focus on commercial vehicles, specifically addressing the challenges of electrification and emission standards.
- Technology Development – An essential aspect of the merger plan is to enhance technology, cope with labor shortages, and meet environmental standards.
Financials
- 150 billion yen ($1 billion) – The amount for which Hino will transfer the Hamura plant to Toyota under the merger agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Toyota Motor Corp. | Merger Participant | Company | Japanese automotive company and one of the largest in the world, overseeing the integration with Hino Motors. |
| Daimler Truck Holding AG | Merger Participant | Company | German automotive truck manufacturer, responsible for merging Mitsubishi Fuso with Hino Motors. |
| Hino Motors Ltd. | Target Company | Company | Subsidiary of Toyota, involved in the merger with Mitsubishi Fuso. |
| Mitsubishi Fuso Truck & Bus | Target Company | Company | Subsidiary of Daimler Truck, involved in the merger with Hino Motors. |