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November 6, 2019
· MFTBC major shareholder Daimler AG has reorganized its corporate structure with the introduction of three operating subsidiaries.
· Daimler Trucks and Buses activities, including MFTBC operations, are now conducted under the common roof of Daimler Truck AG, a newly incorporated entity wholly owned by Daimler AG.
Kawasaki, Japan – Mitsubishi Fuso Truck and Bus Corporation (MFTBC) announces that its major shareholder Daimler AG has launched a new corporate structure as of November 1, 2019. Three legally independent stock corporations now operate under the parent company Daimler AG: Daimler Truck AG, Mercedes-Benz AG, and Daimler Mobility AG. Daimler Truck AG now holds the 89.29% of MFTBC shares previously held by Daimler AG.
All global truck and bus activities, including MFTBC operations, will be conducted under Daimler Truck AG. Approximately 100,000 employees worldwide develop, produce, and market products and services within the organization. With this new structure, increased agility and strengthened customer focus can be expected within the truck and bus businesses. As for the other subsidiaries under Daimler AG, Mercedes-Benz AG will be responsible for Mercedes-Benz Cars & Vans, while Daimler Financial Services and Daimler’s mobility services will be combined under Daimler Mobility AG. The three subsidiaries’ parent company Daimler AG will continue to be the only listed company.
The new Daimler Truck AG is a German stock corporation based in Stuttgart. As required by law, the supervisory board of Daimler Truck AG will be comprised of 20 members. Hartmut Schick, head of Daimler Trucks Asia and CEO of MFTBC, will serve as one of the board members. Martin Daum, Chairman of the Board of Management of Daimler Truck AG comments, “Our customers are at the focus of everything we do: We work for all who keep the world moving. We can only be successful if we make our customers successful – and we do this with products that combine two things: local market requirements and our globally leading technologies.”
The Board of Management and the Supervisory Board of Daimler AG approved the new structure in July 2018. The separation into independent companies required by the new structure was approved by shareholders in May 2019, with a majority vote of 99.75%.
Florian Laudan, Head of Communications, Daimler Trucks Asia
Phone: +81 44 330-7970
MFTBC at a Glance
Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia’s leading commercial vehicle manufacturers. MFTBC sells light, medium, and heavy-duty trucks and buses under the FUSO brand, with 89.29% of its shares owned by Daimler AG and 10.71% by various Mitsubishi group companies. MFTBC is an integral part of the Daimler Trucks division of Daimler AG.
Daimler Trucks Asia at a Glance
Daimler Trucks Asia (DTA) is an organizational unit that jointly operates Mitsubishi Fuso Truck and Bus Corporation (MFTBC) – an icon of the Japanese commercial vehicle industry with more than 80 years of history – and Daimler India Commercial Vehicles (DICV), a young challenger in the Indian market. DTA has a strategic business model that allows its group entities to collaborate in product development, production, exports, sourcing and research activity to provide the best of value products.