Hino has announced that it has agreed to transfer its Hamura Plant to current parent company, Toyota through what it describes as a simplified absorption-type company split.
Hino said the strategic move involves establishing Toyota Motor Hamura, Incorporated, which will be a wholly owned subsidiary, that will see the Hamura Plant become a Toyota operation, with the transfer of shares to Toyota scheduled for 1st April 1, next year, the day the ne2w Hino -Fuso joint venture company comes into existence and the start of the new finanbcial year in Japan.
The companies said that the transfer is part of a “broader business integration strategy” and it will impact Hino’s operational focus and market positioning.
Hino seems to have come out of the negotiations and machinations of the joint venture with Fuso as very much the secondary contender, with most of the senior management team for the new Archion operation coming from Daimler and with Toyota almost willing the transfer of its Hino holdings into the new entity.
there seems to be a notion that Toyota wants to rid itself of the truck maker ever since it was embroiled in the fuel consumption and emission falsification scandal of three years ago.
the new Archion operation will meld the two truck operations into one with joint engineering design and development operations and each brand continuing brand continuing to be sold separately.
