#Press Releases

3 July 2025

Daimler Truck AG (Daimler Truck), Mitsubishi Fuso Truck and Bus Corporation (Mitsubishi Fuso), Toyota Motor Corporation (Toyota) and Hino Motors Ltd. (Hino) have concluded Definitive Agreements on integrating Mitsubishi Fuso and Hino to bundle forces to establish a new strong Japanese truck powerhouse for the benefit of all stakeholders.

The business activities of Mitsubishi Fuso and Hino are to be combined under a new listed holding company based in Tokyo, whose shares are to be listed on the Prime Market of the Tokyo Stock Exchange. Closing is aimed for April 2026. Daimler Truck and Toyota will each aim to own 25 % of the (listed) holding company of the integrated Mitsubishi Fuso and Hino. By integrating Mitsubishi Fuso and Hino Motors, the four companies aim to improve business efficiency in areas such as development, procurement and production and expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.

Further details on the scope and nature of the collaboration, including the name of the new holding company, are intended to be announced over the coming months. The deal will proceed to closing subject to approval from the relevant boards, shareholders and authorities.

The corporate team of GLADE MICHEL WIRTZ has advised on capital market and corporate law aspects of the transaction since the first announcement of the planned merger at the end of May 2023, supported Daimler Truck's legal department on structuring issues and questions of contract drafting and provided final advice to the Board of Management in the run-up to its implementation decision.

Internal advisory team Daimler Truck: Dr. Florian Hofer, Christian Herrmann, Hetal Laligi, Lars Wettlaufer, Jacqueline Hitzler, Dr. Myriam Spengler, Stefan Frank, Ines Heuchert

GLADE MICHEL WIRTZ (Düsseldorf): Dr. Andreas Merkner (Partner), Dr. Marco Sustmann (Partner), Dr. Friedrich Schulenburg (Partner), Dr. Philipp Elixmann (Counsel), Dr. Hannah Beck (Associate) – all Corporate

GLADE MICHEL WIRTZ, with currently approx. 30 lawyers and a total of approx. 60 legal and non-legal employees, specializes in the areas of Corporate & Competition. In addition to its traditional advisory services, the firm has also made a name for itself in the fields of M&A, litigation and compliance. As a focused boutique law firm, GLADE MICHEL WIRTZ advises, nationally and internationally, companies listed on the DAX, MDAX or TecDAX, medium-sized companies as well as foreign, globally active groups and investors in corporate law, on mer-gers and acquisitions, on restructuring and reorganization, in cartel fine and merger control proceedings as well as on compliance issues. In the area of litigation, the focus is on resolving conflicts under corporate law, capital markets law and antitrust law.

You can download the press release here.