The word around the truck industry in recent months has been speculating around the potential for the proposed tie up between scandal ridden, Toyota controlled brand Hino and Daimler owned truck maker, Fuso might have been heading down the gurgler, with months of radio silence from both organisations only serving to fuel this speculation.
However following reports in Japan early today, it appears the merger looks like it is back on, and proceeding, albeit slowly.
Hino Motors and Mitsubishi Fuso Truck and Bus, are apparently moving to finalise the proposed merger agreement, according to Japanese financial news outlet Nikkei Asia.
The two truck makers announced more than a year ago that they were aiming to establish a holding company for the truck units, that would see the two brands continue to sell under their own nameplates, but with shared development costs and platforms.The reports today indicate that the new merged holding company would be listed on the Tokyo Stock Exchange Prime market in 12 months time, sometime during April 2026.
Although Nikkei Asia stated that the merger was back on, it did not disclose its source and nothing official came from either Toyota or Daimler ahead of the report. However later in the day Hino addressed the reports about the potential integration with Fuso, saying that while discussions are still ongoing, no final decisions have been made regarding the integration details.
Hino emphasised that it will make an announcement once concrete decisions are agreed upon, saying there is still some uncertainty surrounding the integration’s specifics.
Many have been suggesting that Daimler management cooled on the arrangement given the massive fines levied on Hino by Japanese and US authorities for the fuel consumption fraud perpetrated by its employees and the damage it has caused the brand.
Other sources say that both companies are still pushing to finalise the integration/merger agreement by next month, citing the fact that the Japan Fair Trade Commission is close to concluding its antitrust review, which is to 
ensure that the merged entity doesn’t have too much market power in Japan. Having said that Japanese anti trust rules are far more liberal than those in the US or Australia and it was never seen as a major impediment to the marriage.
The new holding company is expected to own both Hino Motors and Mitsubishi Fuso outright. Toyota and Daimler have yet to comment on the progress of these negotiations but it is understood things are back on track now.
