ARCHION Corporation

Archion Corporation, the newly-established holding company for Japanese truck-makers Mitsubishi Fuso Truck and Bus Corporation and Hino Motors, reported its maiden quarterly financial results for the first quarter of the current fiscal year and its outlook for the full year. Combined Hino and MFTBC revenues increased by 14% year-on-year to JPY 597.9 billion (US$ 3.76 billion) on a like-for-like basis in the April-June quarter of 2026, while operating earnings rose by 32% to JPY 29 billion before preliminary bargain purchase gains. Including those gains, operating profit rose elevenfold year-on-year to JPY 262.3 billion, and net profits were up fourteenfold to JPY 262.3 billion. Total vehicle sales rose by 14% year-on-year to 60,000 units, supported by strong products, improved product offering and supply following the launch of new heavy-duty and light-duty truck models. Combined registrations in Japan rebounded by 21% to 18,880 vehicles, while sales in Southeast Asia surged by 51% to 22,000 units, driven by a large-scale order from the Indonesian government and a strong rebound by Hino in Thailand, though deliveries in the Middle East plunged by 82% year-on-year to around 1,000 units due to the Middle East conflict.

Archion announced it booked a negative goodwill gain of 233.246 billion yen in the April–June 2026 quarter following the consolidation of Hino Motors as a subsidiary. As a result, the company raised its full-year net profit forecast for the fiscal year ending March 2027 to 303.2 billion yen, up from the previous 70 billion yen. The full-year revenue forecast was kept unchanged at 2.425 trillion yen, and the annual dividend forecast also remains unchanged at 8 yen per share. The negative goodwill gain arose from the accounting treatment in the transition to a holding company structure for the integration of Mitsubishi Fuso Truck and Bus and Hino Motors, with Mitsubishi Fuso treated as the acquirer and Hino Motors as the acquiree.

Archion Corporation, the new holding company for Mitsubishi Fuso Truck and Bus Corporation and Hino Motors, will join Commercial Japan Partnership Technologies Corporation in place of its two subsidiaries. The merger forming Archion was completed in early April 2026 after clearance by Japan's Fair Trade Commission, with Archion owning 100% of MFTBC and Hino and listing on the Tokyo Stock Exchange. Former parents Daimler Truck AG and Toyota Motor Corporation each hold 25% of Archion's equity, while the remaining 50% is publicly traded. CJPT was established to address logistics challenges through collaboration among logistics operators, infrastructure providers, and local governments, focusing on electrification and logistics efficiency for commercial vehicles. Archion aims to accelerate the social implementation of CASE technologies to help solve transportation challenges and contribute to a carbon-neutral society.