Hinopak Motors Announces Agreement Between Parent Companies

Hinopak Motors Limited (PSX: Hino) announced on Tuesday that Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and Hino Motors Limited, its parent company, have entered into a definitive agreement.

In a notification to the Pakistan Stock Exchange (PSX), the company stated, “According to the agreement, a newly established, publicly listed holding company will assume complete ownership of both MFTBC and Hino.”

The company further noted that Daimler Truck and Toyota Motor Corporation are anticipated to possess equivalent ownership stakes in this new holding entity, except for shares allocated to the public during its listing.

Established in Pakistan as a public limited company in 1986, Hino specializes in the assembly, progressive manufacturing, and sales of Hino buses and trucks, along with the distribution of spare parts and accessories.

Hino functions as a subsidiary of Hino Motors Limited, Japan, with Toyota Motors Corporation, Japan, serving as the ultimate parent company.