On June 10, 2025, Daimler Trucks, Mitsubishi Fuso, Hino, and Toyota announced that they have signed a final agreement regarding the integration of Mitsubishi Fuso and Hino.
Mitsubishi Fuso and Hino will integrate on an equal footing and cooperate in the areas of development, procurement, and production of commercial vehicles, and a holding company with 100% shares of both companies is expected to begin operations in April 2026.

Daimler Trucks and Toyota will each aim to take a 25% stake in the holding company.
In addition to the above, it has been announced that Mr. Karl Deppen of Mitsubishi Fuso will be the representative of the new company, and that the company will be headquartered in Tokyo.
Over the next few months, the two companies will file an application with the Japan Fair Trade Commission (JFTC) in Japan for approval, and will also file similar applications in other countries where they do business.
The two companies will also enter into an agreement on governance and corporate structure, select management and board members, and name the new company, with details to be announced by the end of 2025.

At the press conference announcing the merger agreement, Mitsubishi Fuso and Hino also mentioned the advantages for each company.
Mitsubishi Fuso, which specializes in small vehicles, has until now had limited potential for economies of scale within the Daimler Truck Group, which has strengths in large vehicles, but expressed the expectation that the integration with Hino will greatly expand the potential for economies of scale in small vehicles.
Hino, in its management restructuring by strengthening its human capital, expects synergies with Mitsubishi Fuso, which has different origins and culture, not only in development, procurement, and production, but also in human capital.

On the other hand, it is also mentioned that it took time to bridge the gap from the consideration of collaboration to the agreement reached this time, which took about two and a half years.
While understanding the difficulties of integrating companies with different histories and cultures, the four companies will continue to make efforts to deepen mutual understanding and pursue various possibilities for further collaboration, including hydrogen.

The agreement and the launch of the new company are just the starting point, and as we have seen in the past, it takes time for the integration of two companies to produce tangible results,
However, the integration of the two companies will take time to produce tangible results, and the immediate focus of attention will be the materialization of cooperation in vehicle development, infrastructure development, and other areas, with initiatives in the hydrogen area as a symbol of cooperation.