Fuso-Hino merger likely to be delayed
By Will Pulson - 15th March 2024
Hino 700 truck
Japan - Hino Motors Ltd, headquartered in Tokyo, revealed that its merger with Mitsubishi Fuso Truck and Bus Corporation (MFTBC), is delayed due to slower than anticipated processes in obtaining the necessary regulatory clearances and approvals under competition and other laws and regulations. The two companies did not provide a new targeted date for completion of the merger.
MFTBC, headquartered in Kawasaki in Japan’s Kanagawa prefecture and 85% owned by Germany’s Daimler Truck AG, last year agreed to a full merger on equal terms with Hino – which is majority-owned by Toyota Motor Corporation. The Definitive Agreement for the merger was originally scheduled to be signed at the end of March 2024, with integration of the two companies expected to be completed by the end of the year.
