Japan FTC Approves Hino-Mitsubishi Fuso Integration

Tokyo, Feb. 27 (Jiji Press)–Japan’s Fair Trade Commission has approved the business integration of Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corp. The commercial vehicle makers are set to become subsidiaries of Archion, a Tokyo-based holding company, on April 1. The FTC’s approval, announced Thursday, was given on condition that Toyota Motor Corp. reduces its voting rights in Archion. In its screening of the business integration application, the antimonopoly watchdog examined market shares in Japan for buses and trucks in six categories. For compact tourist buses, the combined share of Hino, Mitsubishi Fuso and Toyota totals more than 95 pct. To address the situation, the companies concerned decided that Toyota will reduce its voting rights in Archion below 20 pct and that the two firms will limit personnel exchanges and take measures to block the sharing of sensitive information. They reported the decision to the FTC, which then gave the green light to the integration of Hino and Mitsubishi Fuso. Other conditions for the integration include supporting sales and after-sale services by foreign automakers that are expected to become major rivals of Hino and Mitsubishi Fuso in the market for large tourist buses. END [Copyright The Jiji Press, Ltd.]