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.
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