Key Facts
• June 26, 2025: Hino Motors held its annual shareholders’ meeting in Hachioji, Tokyo.
• April 2026: Target date for Hino Motors and Mitsubishi Fuso Truck and Bus merger.
• November 2025: Hino to hold an extraordinary shareholders’ meeting to decide key merger proposals.
• Parent companies Toyota and Daimler Truck to each hold 25% stakes in the new holding company.
• 181 shareholders attended the meeting, up from 173 in 2024.
• Meeting duration: 2 hours 26 minutes (2024: 1 hour 27 minutes).
• 21 shareholders asked questions, 11 focused on the merger.
• Concerns raised over stock value, cultural differences, and operational synergy.
• Positive feedback included potential product differentiation and survival strategy.
• Stock value ratio for the merger set at 1:1.7, favoring Daimler’s side.
Summary
Hino Motors’ annual shareholders’ meeting on June 26, 2025, highlighted mixed reactions to its planned merger with Mitsubishi Fuso Truck and Bus, set for April 2026. While some shareholders expressed optimism about product differentiation and survival potential, others voiced concerns over stock value, cultural differences, and the feasibility of achieving operational synergy. The merger will create a holding company with Toyota and Daimler Truck each owning 25%. Hino plans to hold an extraordinary shareholders’ meeting in November 2025 to finalize key proposals. The meeting saw increased attendance and extended discussions compared to the previous year, reflecting the significance of the merger. Despite concerns, Hino’s president emphasized the complementary strengths of both companies as a foundation for synergy.
