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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