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Daimler Truck Completes Transfer of Mitsubishi Fuso Into Archion
New Tokyo-Based Holding Company Combines Fuso and Hino Operations
Key Takeaways:
- Daimler Truck completed the transfer of Mitsubishi Fuso into Archion on April 1, combining Fuso and Hino under a single holding company.
- Daimler Truck and Toyota will each retain about a 25% ownership stake and remain long-term strategic shareholders.
- The transaction shifts Daimler Truck’s former Trucks Asia segment to discontinued operations starting in the first quarter of 2026.
on April 1 of its subsidiary into a newly formed holding company, Archion Corp., finalizing a transaction that reshapes its presence in the Asian commercial vehicle market.
The new company, headquartered in Tokyo, began operations the same day and is listed on the Tokyo Stock Exchange’s Prime Market. Archion now owns 100% of Mitsubishi Fuso and Hino Motors, which had been a subsidiary of Toyota Motor Corp. Daimler Truck and Toyota each plan to retain an ownership stake of about 25% and remain long-term strategic shareholders.
The integration brings together two major Japanese truck manufacturers under a single holding structure designed to combine development, procurement, production and logistics operations. Daimler Truck said the structure is intended to reduce operational overlap while creating scale across the businesses.
assumed the role of president and CEO, as well as representative director, of Archion as of April 1. Deppen stepped down from his positions on Daimler Truck’s board of management effective March 31.
“Today marks a significant milestone for the commercial vehicle industry in Asia,” Daimler Truck President and CEO Karin Rådström said in the release. “With the merger of two of Japan’s most respected brands — Mitsubishi Fuso and Hino — we are bringing together the strengths of both entities to form a powerful new company.”
Archion’s formation also carries financial and reporting implications for Daimler Truck. With the closing of the transaction, Mitsubishi Fuso has been deconsolidated from Daimler Truck’s financial statements. Daimler Truck will now account for its investment in Archion using the equity method, with earnings effects allocated to discontinued operations.
Here's an update on the integration of our affiliate Mitsubishi Fuso Truck and Bus Corporation (Mitsubishi Fuso) & Hino Motors Ltd. (Hino).
➡️ scheduled to commence operations on April 1, 2026: — Daimler Truck (@DaimlerTruck)
Cash flows associated with the transaction will be reported under continuing operations and are expected to boost free cash flow for Daimler Truck’s industrial business in 2026. The company said it expects total cash inflows from the integration to range between 1.5 billion and 2 billion euros as it reduces its ownership stake to about 25%.
The former Trucks Asia segment is being reported as a discontinued operation beginning in the first quarter of 2026. Daimler Truck said it will omit an outlook for discontinued operations for the full 2026 financial year and will focus its internal management and external reporting on continuing operations.
Daimler Truck said it will continue operating in Asia through its Mercedes-Benz and BharatBenz brands, with sales, service and after-sales activities varying by country. In some markets, the transfer of the Fuso brand into Archion has resulted in new distribution partners where Daimler Truck subsidiaries previously handled both Fuso and Mercedes-Benz products.
The company said the new holding structure is intended to support closer collaboration between Mitsubishi Fuso and Hino on future technologies, including fuel cells and autonomous driving, while leveraging production and sales networks developed over decades by both brands.
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