Toyota Motor's (TYO:7203) Hino Motors and Daimler Truck's Mitsubishi Fuso are close to finalizing a merger deal, with plans to form a holding company and list it in April 2026, Nikkei reported Tuesday.
The deal, delayed by Hino's emissions scandal, gained momentum after a $1.2 billion US settlement, according to the report.
Toyota and Daimler Truck will hold equal stakes, but Toyota's voting rights will stay below 20% due to antitrust concerns, the report said.
The combined firm would control about 14% of the global medium- and heavy-duty truck market, forming one of two major alliances in Japan's truck sector, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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