Hino Motors (7205) Collaboration summary

Opening remarks and agenda

• The joint press conference announced the execution of a business integration agreement between Hino Motors, Mitsubishi Fuso Truck and Bus, Toyota, and Daimler Truck, introducing the CEOs of the four companies involved.

Objectives of the partnership

• The integration aims to combine Mitsubishi Fuso and Hino on equal footing to develop commercial vehicles, collaborate on procurement and production, and accelerate CASE technologies and carbon-neutral mobility.

• The partnership seeks to contribute to a prosperous society through environmentally friendly vehicles and efficient logistics, enhancing the competitiveness of Japanese truck manufacturers.

Partner introductions and roles

• Karl Deppen will serve as CEO and representative director of the new company, leveraging his experience as CEO of Mitsubishi Fuso.

• Toyota and Daimler Truck will each hold 25% of the Integrated Company, with the remainder as free float.

• Satoshi Ogiso (Hino), Karin Rådström (Daimler Truck), and Koji Sato (Toyota) emphasized their companies' complementary strengths and shared vision.