• Toyota to Raise Stake in Hino

    Japanese news services have reported that Toyota Motor Corp. plans to pay $542 million to raise its stake in Hino Motors Ltd. and appoint its own executive as president, assuming tighter control of Japan's largest truck maker. Hino has not made an official announcement. The Japanese automaker’s stake in Hino would be boosted to 50.1% from 36.6% with the purchase of 122.3 million new shares to be issued
    April 26, 2001
    2 min read
    Japanese news services have reported that Toyota Motor Corp. plans to pay $542 million to raise its stake in Hino Motors Ltd. and appoint its own executive as president, assuming tighter control of Japan's largest truck maker. Hino has not made an official announcement.

    The Japanese automaker’s stake in Hino would be boosted to 50.1% from 36.6% with the purchase of 122.3 million new shares to be issued by Hino in a private placement. According to the report, the purchase will be voted on during a board meeting in June and should be completed on August 30.

    According to the report, Tadaaki Jagawa, an executive vp with Toyota, will become Hino's next president, replacing Hiroshi Yuasa, who will become a senior adviser on Hino’s board.

    While the purchase is still speculative, Ted J. Fick, vp of U.S.-based Hino Diesel Trucks Inc., said an increase in Toyota’s stake would be good for Hino.

    “If it comes to pass, positive results should be felt through the company because of Toyota’s strengths,” Fick told Fleet Owner. “I think they will help us with the brand image and awareness here that makes us so successful in Asia, Australia and Africa.”

    Fick added that the deal would most-likely involve changes in Hino’s senior management, as Toyota may send some its own managers in as replacements.

    About the Author

    Tim Parry

    Tim Parry is a former FleetOwner editor. 

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Sign up for our free eNewsletters

    Latest from News

    Yevheniia Ryzhova | Dreamstime.com
    Why Clear Communication is Key to Retaining Happy, Motivated Drivers
    Drivers want to be seen. Supported. Heard. And they can tell when it’s genuine and when it’s just for show.
    J.B. Poindexter & Co.
    DCBM brand ambulances
    Parent company of work truck upfitting giants Reading Truck and Morgan Olson expands into the emergency vehicle market with the addition of one of North America’s largest ambulance...
    Oxy
    Occidental Chemical, known as OxyChem, produces indispensable chemicals internationally. This small private fleet covers about 2.5 million miles annually, delivering products to customers across the U.S.
    Members Only
    Leadership and training turned this chemical bulk hauler into one of the safest fleets in the U.S. Intensive training and experience pay off for Oxy's Occidental Chemical transportation...